Nearly $3,000,000,000 Worth Collapse of Roger Federer’s Most Loyal Sponsor Puts Things in Jeopardy for the Swiss Star as Well as the Laver Cup

Credit Suisse- the reliable face of Swiss finance has bad news for its customers. In lieu of the recent Silicon Valley Bank collapse, Credit Suisse’s shares have fallen and the bank has been rendered unstable. In a quick attempt to save the bank, its rival UBS took over the management and authority completely. However, Credit Suisse doesn’t just deal in personal transactions. The Swiss tennis pride Roger Federer is a shareholder of the bank, which in turn also funds the Laver Cup tournament.

With such a sudden decision, the tennis community is wondering about what awaits Federer and the Laver Cup over their long-time association with the $2.94 billion worth collapsed bank. Although there have been no official statements released in this regard, there is no surety as to where the bank’s future stands. Just about a week ago the bank and its customers expressed confidence in their situation but now things have really turned around- and not in a great way.

Roger Federer might have other deals to fall back on, but what about Laver Cup?

Swiss tennis maestro Roger Federer is by far Credit Suisse’s safety net and the face of reliability of the bank. Even in the moments of distress last week, the bank decided to go ahead with his clips endorsing the bank on their screens. This was a great move to retain the trust of their customers, but as it is now evident- things didn’t quite go the way they had planned.

However, there has been no official news of Federer’s withdrawal as the bank’s brand ambassador. Moreover, Federer has a lot of other endorsements that will see him through including his billion-dollar deal with Uniqlo, Rolex, Mercedes-Benz, and so on. Federer is also the brand ambassador for the luxury champagne brand Moët et Chandon.

Read more: Roger Federer Thankful to Credit Suisse, Says the ‘Collaboration Has Helped Numerous Vulnerable Children’

However, Credit Suisse is also a sponsor of Federer’s very own Laver Cup. The tournament is one of the biggest honors in the ATP tour and includes tennis legends like Bjorn Borg and John McEnroe. Whether or not the bank will be able to still sponsor this major sporting event is also a question that hasn’t yet been answered by the bank management yet. The authorities of the Laver Cup haven’t released any statement in this regard.

However, one can only expect that the financial balance does not continue to stumble in the upcoming days like it has done for several weeks now.

Watch this story: The Journey of Roger Federer to the Elite Billionaire’s Club

The sixth edition of the Laver Cup is scheduled to be held from 22 to 24th September and tennis fans are waiting for a statement from the bank by then.