Roger Federer's long-term apparel deal with Nike is done.
The 36-year-old great walked out for his opening round match at Wimbledon on Monday morning wearing a headband, jacket, shirt and socks with the Japanese brand Uniqlo. Federer, who had been wearing Nike since 1994, was still wearing Nike shoes.
Nike officials could not immediately be reached.
Sources say the deal is worth more than $300 million guaranteed over 10 years and has an unprecedented clause that says that Federer will still collect the money even if he doesn't play.
To put Federer's $300 million Uniqlo deal in perspective, his career on-court earnings are $116.6 million.
Sources say the deal could be even more lucrative for Federer, as the deal includes the right for Federer's team to sell some patches on his shirt. Nike did not allow him to do so.
Nike was given its right to match the deal and passed. Nike has already discounted most of the Federer related gear on its website.
Federer's deal with Nike expired March 1. Federer had continued to wear Nike without a deal, but for his opening news conference at Wimbledon, he wore an unbranded jacket.
Sources say tensions were high between Federer's agent Tony Godsick and Nike, as Federer's team was looking for more money from Nike. Nike, sources said, offered to expand Federer's line through his "RF" logo, which Nike has owned the trademark of since 2010.
But Uniqlo's offer was too rich. Uniqlo is no small player. The brand is projected to pull in $29 billion in revenue by 2020. Nike is expected to be closer to $40 billion in revenue by that time.
Whether Uniqlo can cash in on Federer will be a question. The brand did not effectively market its deal with Novak Djokovic and they parted ways in 2017 when his deal ended.
Godsick did not return a call seeking comment.
Federer has won 20 grand slams, including a record eight Wimbledon titles.