Image:
Getty
As world number 1 in men’s tennis, Novak Djokovic is an advertising magnet. After all the drama of the last few days, the question arises as to whether this is still the case.
The story of Novak Djokovic made huge waves. In a nutshell, it goes like this: After days of back and forth, Novak Djokovic is not allowed to enter Australia as an unvaccinated person. The 34-year-old can therefore not defend his title in Melbourne. He is also denied the chance to overtake Roger Federer and Rafael Nadal in terms of Grand Slam titles. Djokovic has since gone into hiding in his homeland. If he doesn’t get vaccinated, he threatens to miss further tournaments.
Djokovic and the sponsors
After the whole mess, there are many unanswered questions. One is how the sponsors will handle the case. With the Lacoste fashion label, Djokovic has his own collection of polo shirts, sunglasses and peaked caps. “Clothes that balance elegance and performance,” is the message. Is the collaboration with the tennis star now being reconsidered? In a statement, Lacoste said: “We will be in touch with Novak Djokovic as soon as possible to review the events that have accompanied his presence in Australia.”
Other sponsors such as Peugeot, Hublot, Asics or Raiffeisen Bank International are taciturn and let the storm pass. According to Christian Lang, head of the Competence Center for Sport Management & Entertainment at the University of St. Gallen, this is a common strategy. Compared to the “Tagesanzeiger” he says: “It is best for sponsors to wait until the situation calms down.” Negotiations are certainly going on behind the scenes. When asked whether the reputational damage could be quantified, Lang told SRF: “You have to be aware that Djokovic generated a large part of his fortune with sponsorship income. Because he acts as an advertising medium for many companies, the affair is not without risk for him. It may be that he has significant economic losses after his sporting career. »
Which should really hurt Djokovic
The newspaper “Informer” published in Belgrade estimates the possible damage very well. The headline on Tuesday reads: “Novak has to make a decision: Vaccination or end of career. If he can’t play, he loses 40 million euros in sponsorship money.”
Whether this number is correct or not, one thing is also clear. As far as finances are concerned, there is no need to worry about Novak Djokovic, because he has taken care of things for a long time. He has already raked in over 150 million US dollars in prize money and that doesn’t include the sponsorship money. Djokovic will hit much harder if he can’t continue making history on the pitch. Because he never made a secret of the fact that the record in terms of Grand Slam titles “means everything” to him.
