Dusseldorf According to the business magazine “Forbes”, tennis star Novak Djokovic earned around 38 million dollars in 2021. Although the world’s best player can look back on an outstanding year, prize money only contributed a good fifth to income. Eight million dollars that the Serb earned on the field are offset by 30 million dollars from non-sporting income, mainly from sponsorship contracts.
The list of those who advertise their products with the 34-year-old is impressive: these include Lacoste, Head, Asics, Peugeot, Raiffeisen International and the technology company Ultimate Kronos Group (UKG). Numerous well-known addresses adorn themselves with Djokovic’s name and likeness. But now the negative headlines about the tennis star could possibly rub off on your own reputation.
Because Djokovic’s image has suffered significantly. The Australian authorities revoked his visa and expelled the professional, who was not vaccinated against the corona virus, who wanted to take part in the Australian Open in Melbourne. Djokovic’s entry form showed incorrect information. There was ambiguity about a positive PCR test before Christmas and the quarantine that followed.
Djokovic is not allowed to defend his title at the Australian Open. With a win and thus the 21st title in one of the four largest tennis tournaments in the world, Djokovic would not only have received $ 2.75 million in prize money, but would also have become the most successful player of all time. Instead, according to media reports, Djokovic now has to pay a fine of more than $315,000. In addition, there are hundreds of thousands of dollars in legal and court costs.
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The possible consequences of the sponsors can have a far more serious effect. Some advertising partners could drop out, which could result in losses running into millions.
Bank sponsor leaves the future open
The Handelsblatt asked the most important sponsors about the Djokovic case – some of them are already keeping their distance and expecting explanations.
The Austrian bank Raiffeisen International (RBI), for example, is distant. A spokeswoman commented on request: “We have agreed on a multi-year partnership with Novak Djokovic due to his high reputation in Central and Eastern Europe. This decision was made long before the current reporting on Djokovic and his vaccination status or his participation in the Australian Open. We are critically monitoring the current situation as Novak Djokovic’s sponsor.” The contract with Djokovic runs until 2024.
The Frankfurt sports law expert Hermann Schlindwein comments on the possible effects on sponsoring: “As a rule, sponsors first try to keep their feet still and wait for the situation to calm down. Of course, the legal consequences that the respective sponsors can take depends on the structure of the individual contracts.” However, cuts in payments are conceivable if Djokovic does not provide agreed and measurable services.
The Düsseldorf sports expert Paul Lambertz goes even further: “Djokovic’s actions can justify an extraordinary termination of the sponsorship. If, for example, the sponsor no longer sees the transfer of a positive image to the brand as guaranteed, he can draw the necessary conclusions.”
According to Lambertz, that could also depend on how Djokovic behaves afterwards. “It could be exciting against the background of whether the situation regarding his vaccination status will continue to worsen in the coming months,” says Lambertz.
According to the current status, Djokovic would also not be able to take part in the second of the four most important tennis tournaments, the French Open in Paris in mid-May, as he was not vaccinated. In Australia, he faces a three-year entry ban. This would mean that the 34-year-old would probably not be able to take part in the tournament in Melbourne until the end of his career. This could also affect his contracts with the sponsors.
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At the Swiss luxury watch manufacturer Hublot, which announced shortly before Djokovic’s expulsion from Australia that it would continue the partnership, it no longer sounds like a clear commitment: Hublot has been following the latest developments, according to a spokeswoman. Now that Djokovic has returned to Serbia, “we await his public statement”.
The French car manufacturer Peugeot was taciturn. There is currently nothing to comment on the partnership with Djokovic, it said. The Head group did not respond to inquiries. Djokovic has one of the most important contracts with the tennis racket supplier – according to media reports, the contract should be worth almost ten million dollars.
The connection between the tennis star and the French clothing brand Lacoste is considered to be similarly well endowed. The sponsorship contract concluded in 2017 should also bring him almost ten million dollars. The contract expires this year.
Immediately after Djokovic’s expulsion on Sunday, the French publicly stated that “we will be in touch with Djokovic as soon as possible to review the events that have accompanied his stay in Australia.”
When asked whether Lacoste would continue the partnership with Djokovic, the French did not respond.
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