Novak Djokovic extends sponsorship deal with Asics

Serbian tennis star and the world number one Novak Djokovic has extended a footwear sponsorship with Asics, the Japan-based sportswear manufacturer. A multi-year deal has been signed by Asics and the 33-year-old.

Djokovic first signed as Asics Global Footwear Ambassador in 2018. The Serbian held a shoe sponsorship deal with Adidas before making the switch. Since joining Asics in 2018, he has achieved six major titles and moved to number one in ranking, holding the record for most weeks ranked number one. In an official statement, Asics confirmed the extension of the deal with the Serbian star.

“The long-term partnership will help Asics further expand its global tennis footwear business through Novak Djokovic’ continued insights and feedback on the production of tennis footwear as a world-class player.”

The Serbian’s previous deal with Asics was estimated at around $4m each year. However, the finances involved in the new deal are not public knowledge yet. Since there is an extension of the contract and Djokovic is in the prime of his career, the compensation of the deal is likely to get even bigger.

Since 2014, Japanese watch brand Seiko pay him $5m each year to serve as the brand’s global ambassador. Djokovic’s most lucrative deal is with Lacoste. The brand pays approximately $9.4m annually to serve as his kit supplier. Lacoste released a range of Djokovic branded attire, known as the Novak Djokovic collection as part of the deal. The Serb makes $25.9m annually from his endorsement deals. The world No 1 has partnered with 12 brands across eight different industries.

Djokovic has won 18 Grand Slam men’s singles titles and 82 ATP singles titles overall, including a record nine Australian Open titles and a record 36 Masters 1000 events. The Serbian tennis star is currently on track to win the most grand slams in the history of the tournament by the time his career comes to an end.

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