A 20-time Grand Slam champion, Roger Federer announced his upcoming retirement Thursday, saying that next week's Laver Cup will be his final ATP event.
A month after Serena Williams announced she would retire, another tennis legend is ready to hang up his racket. On September 15, 2022, Roger Federer - the first-ever male tennis player to win 20 Grand Slam titles - announced his retirement from tennis as one of the wealthiest men to ever play the game.
Federer's retirement from professional tennis
‘The past three years have presented me with challenges in the form of injuries and surgeries,’ Federer, who has not participated in a single competitive match since reaching the Wimbledon quarterfinals in July 2021, said in his retirement announcement.
Taking to Instagram, the Swiss great wrote:
'I am 41 years old. I have played more than 1500 matches over 24 years. Tennis has treated me more generously than I ever would have dreamt, and now I must recognize when it is time to end my competitive career.'
The 20-time Grand Slam winner continued emotionally:
‘I’ve worked hard to return to full competitive form. But I also know my body’s capacities and limits, and its message to me lately has been clear.’
Federer said he would 'play more tennis in the future, of course, but just not in Grand Slams or on the tour.’ However, imagining the case of Roger Federer stepping away from the sport entirely, he can still count on several of his sponsorships continuing into retirement.
The outpouring of praise following the Swiss star's retirement announcement proves just how remarkable a legacy he has been in the tennis and sports world. Throughout the legend's glittering career, he has unlocked many admirable records, reaching 23 consecutive grand slam semi-finals and 36 consecutive quarter-finals. Federer's 103 ATP singles titles, 28 ATP Masters titles and six ATP finals are the perfect testament to his ageless class, landing him among the greats in the men's game, alongside his own idol Pete Sampras and other contemporary stars such as Novak Djokovic, Rafael Nadal, or Andy Murray.
What is Roger Federer's net worth as of 2022?
Although he devotes a large part of his income to helping many philanthropic activities like setting up the Roger Federer Foundation in 2003 and numerous other charity events, the Swiss ace has earned a fortune from his career.
Thanks to those earnings, he is part of a unique club of so-called ‘billion dollar athletes’ including many worldwide famous faces like Michael Jordan, Lionel Messi, and Lewis Hamilton, according to Marca.
Federer's net worth is said to be as much as $550 million after a career that has seen him earn almost $1 billion in endorsements and over $115 million from playing tennis, according to Forbes estimates.
That income has primarily come from a mixture of earnings through continual wins on the court and endorsements of brands in advertising and wearing their clothing.
Federer's career peaked in 2007 when he brought in $10.1 million in earnings and was almost undefeatable in the playground of tennis athletes. It also makes him one of just seven athletes across sports—alongside LeBron James, Floyd Mayweather, Lionel Messi, Phil Mickelson, Cristiano Ronaldo, and Tiger Woods—to have surpassed $1 billion while still active.
Throughout his career, he has gone from earning $28,000 in his breakthrough year in 1998 to 400 times as much within 10 years. The total amount earned on the courts is just over $115 million from tournaments, giving him one of the highest figures in the whole history of the sport. Only Rafa Nadal ($131 million) and Novak Djokovic ($159 million) have ever earned more from tennis.
At the peak of his career, Federer is thought to have earned up to $94 million per year in endorsements, coming in 2018/19, thanks in large part to prestigious companies like Credit Suisse, Rolex, and Mercedes Benz.
In 2018, Federer signed a 10-year contract with Japanese fashion brand Uniqlo which was worth $30 million to wear their apparel. He is the highest-earning athlete when it comes to endorsements from brands and leads the way right up until his retirement, reports CNN.
But can the pathway to becoming an athlete billionaire like Michael Jordan continue after his retirement? The answer is yes. In addition to his endorsement money, he has an undisclosed but significant stake in the Swiss shoe brand On, having invested in the company in 2019 and watched it go public last September.
Read more:
⋙ Tennis legend Serena Williams announces retirement from glorious career for family reasons
⋙ Four-time world champion Sebastian Vettel announces retirement from F1 career
