By every The prize pool is up 15% from the previous year to $75 million, making it the largest prize money for any tennis event in history; the winners’ individual awards are up 20% to $3.6 million each; sales of the signature Honey Deuce cocktail are expected to reach a record $10 million; TV ratings are predicted to break previous records. ESPN has revealed that the US Open would now be televised till 2037. And on the court, so many firsts! Since 2009, there hasn’t been an American man in the championship match; if Jessica Pegula prevails, it will be the first time an American woman has won in two consecutive years since Serena Williams’ 2012 three-peat.metric, this has been the biggest US Open ever.
Now let me talk about Federer. On my Twitter feed, there were more memes from Federer’s Tuesday night trip to the Open than from any other event, despite the excitement around the players competing in this year’s competition. Federer’s presence in the building thrilled Frances Tiafoe, who said, “The way he looked in the suite was the same way he looked when he was playing.” It’s like, “What’s up with this dude, man?” There’s no perspiration, the tee is pressed and flawless. Perfect hair What a legend, what a person… He’s such an icon, and everywhere he goes, everyone greets him with love.
In fact, Serena Williams and Roger Federer retired in the same month two years ago, yet their respective star power hasn’t waned in the slightest. According to Spotrac data, Federer has 20 titles and $130.5 million, although Djokovic and Nadal have won more majors and made more money on the court. Nevertheless, Federer seems to be the face of men’s tennis to this fan.
Federer’s Second Career
The next event on Federer’s schedule is the Laver Cup, an indoor competition he cofounded in 2017 with his longtime agent Tony Godsick. It takes place in Berlin in two weeks. Federer will compete in his second Laver Cup after retiring, but his impact has barely changed.
Godsick told me in a lengthy interview this week in our FOS studio in New York, “I always tell sponsors, he’s actually probably more valuable now that he’s not playing, because he actually has time to spend with their customers, and do interviews, and welcome the players.” The list of sponsors, which includes Rolex, Mercedes, UBS, Uniqlo, On, and Wilson, is as exclusive as it comes.
You’ll notice that Nike isn’t on that list. 2018 saw the conclusion of Federer’s 24-year partnership with Nike. When I covered his move to Uniqlo back then, I recall being a little surprised that he ended up working for the fast-fashion Japanese company.
Godsick elaborated on the incident for me, saying, “The contract was coming to an end.” With a 36-year-old athlete who will shortly be retiring, what do you do? I attempted to persuade them that you are capable of much.
Nike didn’t believe that. Federer is really into fashion, which is why Godsick discovered Uniqlo. He received an offer after traveling to Japan to speak with Tadashi Yanai of Fast Retailing, the parent company of Uniqlo. According to Godsick, Nike “decided they didn’t want to match.” Since Uniqlo doesn’t produce shoes, Federer was free to add a partnership with On in 2019 because it wasn’t competing with Uniqlo. Tennis was a major factor in On’s 28% year-over-year revenue increase for its second quarter, which was announced last month.
As an investor in On, Godsick recalls that the company’s founders would frequently ask him if there was any chance On might work with Federer. To which Godsick would reply, “No, he’s with Nike; he’ll be with Nike forever,” (On and Federer are Swiss nationals.)
up till he wasn’t. Indeed, six years have passed since then, and Nike now boasts a huge roster of some of the greatest athletes in every discipline. It’s unlikely that Nike is lamenting Federer’s departure from the athlete list. However, the 2023 book The Roger Federer Effect quotes Mike Nakajima, the former tennis director of Nike, criticizing, “That should never have happened.” It is a crime for us to let someone go like way.
As Federer continues to perform well in retirement, that assessment seems more and more accurate. Nike made a huge mistake.