Nearly $2,000,000,000 Worth Gigantic Move From Roger Federer as He Deepens His Grip Further as a Businessman With a New Venture

Roger Federer has established his name in the tennis GOAT debate. The Swiss Maestro’s mindset on the court was something players could rarely match up to. However, Federer showed his prowess in fields other than tennis when he signed with On Holding, a Swiss shoe manufacturing company. Federer signed with Uni Qlo prior to On Running, and his combined deals earned him over $600 million. This deal earned him six times more than what Nike was offering him. His stake in the shoe company may turn out to a success as it is currently growing and signed on players like Iga Swiatek and Ben Shelton.

Roger Federer’s deal with Nike ended in 2018. The Swiss signed on with Uni Qlo and later in 2019, signed with On Holding. His deal with the two brands earned him over $600 million which made him the only tennis player with over $1 billion career earnings.

Roger Federer gets good news from shoe company

The Mighty Federer’s deal with On in 2019 included that Federer would own a 3% stake in the company. Federer came across the company first when he saw his wife wearing the shoes and then on the streets of Switzerland. When he wore the shoes he felt great comfort and wanted to meet the founders. A meeting was set up which eventually ended with Federer investing in the company.

In a recent report on Bloomberg, On revealed that they expect great growth this year. The shares of the Switzerland based shoe company increased as much as 30% in one day recently. Their biggest jump since September 2021. Currently, they are looking to expand to the USA, Latin America, China and Japan. In 2023 it is expected by the company that sales will rise by 39% to 1.7 Billion Francs.

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On usually makes shoes for middle-aged athletes, especially triathletes and runners. But now, they are looking to target younger players which could spell trouble for rivals Adidas and Nike.

American players to boost Federer’s company

Along with the projected growth this year, ‘On’ is also looking forward to introducing some new players in their lineup. They recently signed on WTA number 1 Iga Swiatek and the up-and-coming American pro Ben Shelton. The two joining would definitely increase their outreach to several young and novice players.

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Roger Federer is in for huge monetary profits after he let go of Nike. With sales increasing and new players joining, the only way for ‘On’ is up.