Roger Federer Left a $100M Nike Deal for a Startup Everyone Mocked — Now It’s Worth Billions
When most people think of Roger Federer, they picture the effortless backhand, the grace under pressure, and the elegance that made him one of the greatest athletes in history. Yet Federer’s legacy goes beyond the twenty Grand Slam titles and countless weeks spent at world number one. His most daring move happened not on the tennis court, but in the business world. Against all expectations, Federer walked away from a $100 million Nike contract to back a small and obscure Swiss shoe brand. The world laughed at the decision, but today, that bold step has helped elevate him into the exclusive realm of billionaire athletes.
The End of an Era with Nike
For more than two decades, Nike had been synonymous with Roger Federer. The company supported him when he was a rising star and stayed by his side through the prime of his career. The RF logo, stitched proudly on his polos and headbands, became a global symbol of class and precision. Fans bought his signature gear not only because of performance but also because Federer embodied something that transcended sports: timeless elegance.
So when the news broke that Federer and Nike were parting ways, it shocked the tennis and business world alike. A $100 million deal was on the table, one that would have secured him financial comfort and prestige with one of the most powerful brands on the planet. Yet Federer declined. He had something else in mind, something much smaller, riskier, and at the time, almost laughable.
A Leap into the Unknown
The company Federer decided to join forces with was On, a young Swiss running shoe brand founded in 2010. Unlike Nike, Adidas, or Puma, On had no global recognition. It was a startup with dreams bigger than its resources. Even in Switzerland, it wasn’t yet a household name. For a man of Federer’s stature, aligning with such a brand looked like a reckless gamble.
Critics asked why he would abandon guaranteed money and global exposure with Nike to partner with a company that most consumers had never heard of. Federer’s answer was clear: he believed in the vision of On, in its innovative cushioning technology, and in its ability to combine Swiss engineering with modern design. More importantly, he wanted to be more than just an athlete endorsing a product; he wanted to be part of the journey as an investor and co-creator.
The Birth of the Roger Pro
Federer’s involvement with On went beyond simply lending his name. He sat with designers, shared insights about performance and comfort, and helped conceptualize what would become the brand’s tennis-inspired lifestyle shoes. The launch of The Roger Pro sneaker wasn’t just another celebrity collaboration; it was a statement that Federer was bringing the same precision and discipline from the court into the business world.
The Roger line was sleek, minimalistic, and distinctively Swiss. Unlike flashy athletic shoes that screamed for attention, these sneakers whispered sophistication — much like Federer’s playing style. They resonated with fans who wanted a shoe that represented understated class rather than aggressive branding. Suddenly, On wasn’t just a niche running company; it had global appeal.
Global Expansion and IPO Success
Federer’s involvement was a turning point for On. The company expanded rapidly, securing retail space across Europe, North America, and Asia. Its revenue skyrocketed, and its shoes gained popularity not just among athletes but also among everyday consumers who valued comfort and design.
The pinnacle of this growth came in 2021, when On went public on the New York Stock Exchange. The IPO was a massive success, valuing the company at over $10 billion. Federer, who owned an estimated 3% stake in the company, saw his investment turn into a windfall worth hundreds of millions of dollars. Overnight, the gamble that so many had mocked turned into one of the most brilliant financial moves in sports history.
From Athlete to Billionaire Entrepreneur
By stepping into the world of entrepreneurship, Federer joined an elite group of athletes who transcended sports to become business moguls. His estimated net worth crossed the $1 billion mark, placing him alongside icons like Michael Jordan, Tiger Woods, and LeBron James. What set Federer apart, however, was the nature of his wealth. Unlike Jordan, whose partnership with Nike created the Air Jordan empire, Federer had deliberately walked away from the safety net of Nike to co-build something from scratch.
This move revealed a new dimension of his character: foresight, patience, and a willingness to take risks. Federer’s decision wasn’t simply about money. It was about legacy, about showing that athletes can be innovators and entrepreneurs in their own right, not just endorsers of someone else’s product.
Changing the Landscape for Athletes in Business
Federer’s success with On has sparked conversations about the evolving role of athletes in the business world. For decades, the traditional model was simple: companies paid athletes to wear their gear, appear in commercials, and influence consumers. Federer turned that model on its head. Instead of renting his image, he invested his own resources, shared his ideas, and became part of the company’s DNA.
This approach is inspiring a new generation of athletes. Rather than chasing endorsement deals alone, they are now seeking equity stakes and opportunities to build businesses that can outlast their playing careers. Federer’s story serves as proof that with the right vision and partnership, an athlete can go from being a brand ambassador to being a brand owner.
A Symbol of Swiss Excellence
On’s rise to global prominence has also been a source of national pride for Switzerland. The country is known for its precision watches, chocolate, and financial institutions, but rarely for disruptive sports brands. Federer, already a national treasure, has amplified Swiss innovation on the world stage. On’s success story has become a testament to the power of Swiss craftsmanship, mirroring Federer’s own meticulous approach to tennis.
Facing Skepticism with Quiet Confidence
When Federer first made the switch, the skepticism was relentless. Pundits declared it a mistake, fans questioned the loss of the iconic RF logo on Nike gear, and business analysts predicted On would never compete with giants like Nike and Adidas. But Federer’s entire career had been built on turning doubt into dominance. Just as he silenced critics who once claimed his style was too elegant to withstand the physical demands of modern tennis, he proved the naysayers wrong in business too.
Why Federer’s Decision Matters Beyond Tennis
Federer’s choice to back On is more than a business success story. It reflects a broader cultural shift about how athletes and celebrities approach their careers. The world has seen countless stars squander fortunes after retirement, relying solely on fleeting endorsements. Federer, in contrast, built something sustainable. His investment in On ensures that even when he no longer steps on a tennis court, his influence continues to shape fashion, culture, and entrepreneurship.
Moreover, his story highlights the importance of trusting intuition. Federer didn’t follow the safe path, nor did he listen to the critics. He chose passion and belief in innovation, and that conviction turned into billions. For entrepreneurs, investors, and dreamers around the world, it is a powerful reminder that the greatest rewards often lie on the other side of risk.
The Legacy of a Champion Off the Court
Roger Federer will forever be remembered for his artistry with a racket, but his decision to back a tiny shoe brand may prove equally transformative in defining his legacy. By rejecting the $100 million Nike deal, he showed that sometimes the greatest victories are not won on center court but in boardrooms and creative studios. On’s meteoric rise is inseparable from Federer’s belief, and today, the world no longer laughs at the gamble he took. Instead, it celebrates him not just as a champion, but as a visionary.
Federer’s journey reminds us that true greatness is not just about dominating opponents, but about daring to believe in the impossible. He left Nike, embraced the unknown, and in doing so, he turned both himself and On into icons of resilience, innovation, and ambition. Now, as a billionaire, Federer stands tall — proof that elegance, courage, and vision can triumph in business just as they do in sport.
