Federer Set To Break Another Record: Largest Endorsement Ever For A Tennis Player
Roger Federer is set to break another tennis record (from tennisgrandstand.com)
Sports Business Journal is reporting in its January 28 issue that Nike is set to sign Federer to a 10-year extension of its contract that “could be worth as much as $13 million a year.”
Rene Stauffer, the author of the globally-recognized book The Roger Federer Story, Quest for Perfection , also reports in Tages-Anzeiger newspaper in Switzerland, that Federer’s potential deal would be more than what Nike paid Andre Agassi.
Wrote Sports Business Journal’s Terry Lefton and Dan Kaplan, “Sources close to the deal differed on whether that money was fully guaranteed or in part depended on how well tennis’ top male player performs on the court. If the contract indeed reaches that amount ($13 million a year), the deal would make Federer one of the top-paid endorsers at Nike in any sport.”
SBJ compares Federer’s deal with other top athletes. Basketball’s LeBron James has a seven-year, $90 million deal and is one of Nike’s top athlete contracts. Golfer Tiger Woods has a contract believed to be worth around $40 million annually. Maria Sharapova’s deal with Nike, according to SBJ, is believed to guarantee her around $6 million annually. Agassi’s deal with Nike in 1995 was believed to be more than $100 million that included royalties on sales, according to SBJ.
Wrote SBJ, “If Federer’s deal is fully guaranteed, he would easily become the highest-paid tennis endorser. Even if, for example, half the money was guaranteed, it still would make him one of the top, if not the top, endorser.”
SBJ also reports the deal is expected to be signed in February.
Stauffer reports that adidas, Lacoste and Polo Ralph Lauren also bid to sign the world No. 1 to wear their clothing. SBJ reports that Polo representatives denied a deal was offered to Federer.
Federer was stopped short of his effort to win a fourth Australian Open singles title last week – and with it a 13th career major singles title – losing to eventual champion Novak Djokovic of Serbia in the semifinals. Federer trails Pete Sampras for the all-time major singles title record. Sampras won 14 major singles titles from 1990 to 2002.