Roger Federer has landed the top spot on the annual Forbes list of the highest-paid athletes for the first time this year with $106.3 million in pre-tax earnings. The Swiss ace is the first tennis player to take the No. 1 rank since the list debuted in 1990. Federer’s haul includes $6.3 million in prize money and $100 million from endorsements and appearance fees, lifting him from the No. 5 spot he held in 2019 and beating his previous high of second place in 2013.
“His brand is pristine,” says David Carter, a sports business professor at USC’s Marshall School of Business, “which is why those that can afford to align with him clamor to do so.”
Federer’s endorsement portfolio is unmatched among active athletes, with 13 brands including Barilla, Moet & Chandon and Rimowa paying between $3 million and $30 million to associate themselves with the 20-time Grand Slam champ. The 38-year-old and golfer Tiger Woods are the only two active athletes to have hit $100 million in a single year from sponsorships alone. Federer’s on-court résumé is the stuff of legend, with the men’s records for most Slam titles and most weeks ranked No. 1 (310). The consistency is staggering. He ranked in the top three for 750 straight weeks—almost 15 years—and qualified for 18 out of 19 Slam finals between 2005 and 2010. Federer, while seizing the top spot late in his career, is showing no signs of slowing down. His latest partnership is with Swiss startup running shoe On, whose headquarters sit close to the new home the tennis star is building on Lake Zurich. A renowned sneakerhead, Federer will endorse the brand, whose sales have been doubling annually since its 2010 launch, and also invested in the company in return for an equity stake that one source called “significant,” a partnership that could have serious upside for Federer.
Another sign of his command of the off-court side hustle: Once companies align themselves with him, they almost never leave. Rolex, Credit Suisse, Mercedes-Benz and Wilson have all been on Team Fed for more than a decade. The exception? Nike. Federer stunned the tennis world in 2018 when he split from the sneaker giant after 20 years and joined with apparel brand Uniqlo. The chain, part of Fast Retailing, made an offer he couldn’t turn down, promising $300 million over ten years whether he was playing tennis or not and leaving open a slot for a shoe deal like the one with On since the Japanese giant doesn’t make sneakers.
The length and terms of the deal raised eyebrows given that Federer was about to turn 37 when he signed it. At that age, almost all tennis players have long since retired, a detail that apparently means little to brands trying to get into the brand of Federer.