Breaking the shackles of Michael Jordan’s $4,800,000,000 success, Roger Federer became a pioneer and set an unprecedented benchmark for young athletes

Swiss great Roger Federer was still finding his way on the tennis circuit, when football and basketball legends ruled the sporting millionaires club. The Swiss maestro is the only player in the tennis world to become a billionaire thanks to Nike. Interestingly, the American athletic apparel giant did not make him a billionaire. Nike let go of the 20-time Grand Slam champion, who took the first step toward becoming a billionaire: signing a deal with Japanese giant Uniqlo. This partnership increased Federer’s annual earnings from $10 million to $30 million per year. While the world was still processing the large numbers, King Roger finished the masterstroke by signing with ‘On Running’ for 3% equity, valued at approximately $300,000,000.

Nike relies heavily on its immortal Air Jordan move, which was launched in 1984. Michael Jordan was hardly just an NBA player, but a champion for the ages. Recognizing his immense brand value, Nike played their game and signed the young talent in his first year. Nike believed in MJ’s talent, just as it did in Federer’s talent. Recently, the 42-year-old commented on Jordan’s move and the surprising impact his investment has had on the NBA legend.

Roger Federer reveals how he and Michael Jordan are different

In 2002, a 21-year-old Swiss star renewed his Nike deal for $2 million. But the financial move was publicly condemned by a prominent American tennis agent, prompting the Swiss maestro to analyze his decision. In 2005, the former world No. 1 earned $14 million. Although she won both the US Open and Wimbledon, she earned less than Andy Roddick, Serena Williams and Maria Sharapova. Therefore, the tennis legend appointed a new agent through Monica Seles.

The collaboration increased its annual revenue by 207% from $14 million to $43 million in 5 years. Recently sales have increased to 4,800,000,000, and with it, so have Jordan’s revenues. In 2013, Federer became the second highest-paid athlete in the world, surpassing LeBron James and Kobe Bryant. With his new agent, Tony Godsick, Federer also started his own company, Team 8. The 20-time Grand Slam champion’s net worth grew through various global brands like Rolex, Wilson, Mercedes and Lindt.

As of April 2023, Jordan earned $1.3 billion from Nike Air, of his reported net worth of $1.7 billion. However, the NBA legend does not own a stake in the athletic giant despite the 39-year-long association. Therefore, Federer’s move forced Jordan’s mother to force the legend to sign a new deal with Nike. In an interview with Complex, Federer was asked about his Airness and his stake in Nike. The tennis legend said, “I think Jordan’s story is very unique. Every story is unique and sometimes you have some brands that hit rock bottom before they flourish and all that stuff. So, I think his story is unique.

Federer shared how his decisions send a message, “I think, maybe other athletes like me in my situation will realize what can be done, that investing in a young company or getting a share of the company is very different.” Not thinking ‘What will my salary be at the end of the month of the year?’ But maybe you will get your salary in 10 years. It’s not easy not to think like an athlete.” The tennis god also revealed the importance of family advice while sharing his relationship with On.

The Swiss Maestro’s experience as a shareholder in ON

Federer actively participates in designing and giving feedback for sneakers manufactured with the help of sensory feedback. He said, “My relationship with ON is very good now. It’s very close because when you’re a shareholder owner, it’s a different ball game, and it’s a lot of fun and I learn a lot too, because you own a percentage of the company. The 8-time Wimbledon winner also revealed financial security issues and important advice from the right people.

Citing Jordan as an example, the 103 singles title winner explained how important it is to seek parental advice to gain confidence and make choices. Federer’s ‘On’ is making waves, 60% of its business is in America. The Swiss athletic giant is targeting sales of a whopping $3.5 billion by 2026. Federer-backed On has more than 20 stores in the US, and demand is growing. Champions like Ben Shelton and Iga Swiatek have joined the Swiss giants, and with an American and Federer, On aims to emerge as a global giant and is likely to pose a threat to time-honored brands like Nike and Adidas. .

If Jordan decides to renew the contract for a higher amount, the scenario with the Swiss giants will probably be repeated. Brands in sports follow a standard convention to limit only 10% of their total revenue to athlete sponsorship deals. Nike spends more revenue on sponsorships and endorsement deals than any other brand. Therefore, increasing the maximum budget is already a closed door. Do you think Jordan will renew his Nike deal?

Watch this story: Roger Federer’s journey to the elite billionaire club