Tennis News 2026: Roger Federer loses millions in collapse of On sneaker brand, stake falls

Tennis legend Roger Federer has lost $74 million in a day following a sharp share price collapse at On, the luxury Swiss athletic brand in which he holds a 2.5 per cent stake.

The company’s shares plummeted 19 per cent on Tuesday after reporting that it missed second-quarter sales expectations.

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For the 20-time grand slam champion, the sudden market hit was costly, wiping a significant portion of his fortune.

Federer’s relationship with On has been a major driver of his post-retirement wealth, becoming a part of the company in 2019, taking up a position as co-owner and operating as a casual fashion consultant.

The brand’s major 2025 valuation surge was a hugely positive response to Federer’s own ‘The Roger’ range.

It has grown from being a high-performance running shoe manufacturer into a global athletic footwear brand.

On has also worked alongside and sponsors major tennis stars such as Iga Świątek and Ben Shelton.

Both current tennis stars are playing in the Canadian Open, with Shelton walking through his rivals into the semi-finals where he will meet compatriot Learner Tien. And Świątek is set to face Ukraine’s Elina Svitolina.

Federer, an eight-time Wimbledon champion, finished his playing career with total prize money winnings of more than $184.17 million, with Forbes reporting last year that Federer was worth (AUD) $1.56 billion.

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The 20-time major champion was even more successful off the court, most famously signing a 10-year, $300 million apparel deal with Uniqlo in 2018.

His decision to align with the Japanese apparel brand broke a 24-year partnership with giant Nike.

Federer also works with other blue chip brands Rolex, Mercedes-Benz, ­NetJets, Gillette and Lindt chocolate.

Despite the financial setback, the tennis icon has plenty to look forward to in the coming weeks as he is set to be officially honoured at the 2026 International Tennis Hall of Fame induction ceremony on August 29.

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