In the long list of celebrities/sportspersons-corporate partnerships, the latest is the Roger Federer-Credit Suisse sponsorship joint program. The Credit Suisse partnership is the latest in the list of partnerships Federer is in involved in; he is already involved in endorsement deals with major corporate such as Mercedes Benz, Rolex, Nike, Gillette, and more recently, the Swiss chocolate maker, Lindt. Credit Suisse recently opted out of their Formula One sponsorship, citing strategy change as the reason. The Swiss bank apparently wants to concentrate on regional events.
The Credit Suisse-Roger Federer partnership comes as no surprise as both are Swiss entities and both hold a good brand reputation internationally. The affable tennis star, to his credit, has 61 singles tournament and 15 Grand Slam titles under his belt and is the highest earner in the professional tennis circuit, to date. More than his achievements on the courts, the genial Swiss is liked by one and all, cutting across geographical and national differences. Federer’s on court and off court behavior is perfect role model material, and his mild manners and gentleman like behavior have made him a darling of the masses. This is in sharp contrast to the images of superstar statuses but lousy reputations enjoyed by some celebrities in tennis as well as other sports.
Credit Suisse is one of the leading banks in Switzerland and also carries with it the tag of being a very successful and reputable organization. According to the partnership, of which exact financial figures aren’t available at this point in time, the Swiss bank will contribute a significant amount annually to the Roger Federer Foundation. The Roger Federer Foundation, incidentally, is involved in helping disadvantaged children, especially in Africa. The foundation aims to augment the quality of living of the underprivileged children in Africa by promoting sports and education facilities in the region. Under the agreement with Credit Suisse, Roger Federer will be the face of the bank globally apart from promoting the bank in all tournament and media appearances.
Needless to say, both, Federer and Credit Suisse are happy with the new association, and Brad Dougan, CEO-Credit Suisse revealed this to the media about Ferderer, after inking the deal:
“Credit Suisse is delighted and proud to be associating ourselves closely with Roger Federer – one of the greatest tennis players of all time, known and admired worldwide. Our decision to enter into a long-term partnership is driven by the fact that Roger represents the values that we embrace as a bank. He has a passion for excellence and is a great player. He has achieved this through a combination of hard work and determination. He brings all of his talent to bear in his play and raises the level of his game to meet the challenge in even the most trying of circumstances. At the same time, he sets an example for responsible conduct both on and off the court. We also particularly share his passion for giving back to the community through his sponsoring of educational initiatives and look forward to supporting his charitable foundation.”
In return Roger Federer said:
"I am excited about this opportunity to act as a global ambassador for Credit Suisse. They have been an important and trusted banking partner with me for a long time, and I admire their passion for excellence. I also value Credit Suisse's substantial support for my foundation. I look forward to our ongoing partnership and helping to make a contribution to the bank's continued success."
Two reputed brands joining hands to make profits is not new in the world of business, nowadays, but what makes this deal significant is the endeavor shown by both parties to make a difference to the lives in the third world. If Federer’s past endorsements are taken as a benchmark, then this partnership will be in upwards of $2 million a year, and since this is a 10 year contract, Federer, who is 28 now, can look forward to making a difference to poor children in Africa at least until he turns 38. Let’s all hope that this generous and talented Swiss tennis star signs many more deals in the future to help him expand the operations of his foundation to include poor countries in other continents, as well.
This post was written by guest blogger Johnny Hurson. You can follow Johnny on Twitter @adiletchaim or visit his blog Footballrumblings.com.
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