Tennis ‘Big Four's Investment Protofolio: Federer, Nadal, Murray and Djokovic

From sports to business, Federer, Nadal, Murray, and Djokovic are not only tennis stars but also savvy investors with distinct visions. Orange Bay Sports explores the investment portfolios and key cases of tennis 'Big Four' in this article.

*Ordered by age from oldest to youngest

Federer

- Investment in On

Federer's most well-known and highest-return investment is his 2019 stake in Swiss sportswear brand On.

According to the Bloomberg Billionaires Index in July 2025, Federer became the first tennis player with a net worth exceeding $1 billion, with an estimated net worth of around $1.3 billion. At that time, On was valued at nearly $17 billion, making Federer's stake (approximately 3%) worth at least $500 million.

In November 2019, Federer invested in On, which had projected sales of CHF 200 million at the time. By 2025, On's full-year sales reached CHF 3.014 billion.

On co-founder Caspar Coppetti said after Federer's investment: "Although Switzerland has chocolate and watches, Federer is arguably one of Switzerland's greatest exports ever, working wonders for the country's image abroad."

After investing in On, Federer fully leveraged his fashion creativity, deeply involved in product development, helping the brand launch the "The Roger" tennis shoe and apparel line, while serving as brand ambassador and actively participating in marketing campaigns.

Above: During the 2025 Shanghai Masters, Federer attended an On meet-and-greet, interacting warmly with Chinese fans.

- Co-founding the Laver Cup

Beyond On, another major post-retirement endeavor for Federer is driving the development of the co-founded Laver Cup. The Laver Cup is operated through Federer's sports marketing company TEAM8, in which Federer is a shareholder, giving him a direct commercial investment in the event.

Under Federer's push, the Laver Cup's influence has grown, attracting a series of new sponsors last year, including German luxury brand BOSS, tennis brand Wilson, LVMH Group's Moët & Chandon, and Swiss Air.

According to Laver Cup CEO Steve Zacks, ticket and sponsorship revenue for the 2025 Laver Cup is expected to exceed $20 million, breaking historical records.

Above: Federer (right) with former Australian tennis player Rod Laver (left).

- Other

In 2021, Federer participated in the $235 million Series D funding round of Chilean plant-based food company NotCo, alongside F1 driver Lewis Hamilton.

In 2018, TEAM8, the boutique sports and entertainment company founded by Federer and his agent Tony Godsick, made a strategic investment in Universal Tennis, a global tennis rating service.

Beyond personal investments, Federer has long-term partnerships with many brands. A recent example is his collaboration with eyewear brand Oliver Peoples. In 2023, they signed an exclusive licensing agreement, with Oliver Peoples handling the design, manufacturing, and sales of his co-branded eyewear collection.

Nadal

Nadal primarily invests through his family holding company Aspemir, with a diversified portfolio of around 20 companies. His mother, Ana María Parera, is the sole director of Aspemir, while his father, Sebastián Nadal, serves as CEO. According to the latest publicly available data, Aspemir managed net assets of €341.4 million in 2023.

- Founding the Rafa Nadal Academy

In 2016, Nadal founded the Rafa Nadal Academy in his hometown of Manacor, Spain. To date, Casper Ruud, Iga Świątek, Lorenzo Musetti, and Hong Kit Wong are among the notable players who have trained there.

The Rafa Nadal Academy has undergone multiple expansions, including the addition of a hotel. It now features 40 indoor and outdoor clay and hard courts, a swimming pool, padel courts, a football field, and an international school, making it one of the world's top high-performance training centers, attracting many talented young players and professionals. The academy has branches in Mexico, Hong Kong (China), Brazil, Greece, and the Dominican Republic.

Above: Rafa Nadal at the Rafa Nadal Tennis Centre in Hong Kong, China.

In March 2025, Aspemir announced the sale of a 44.9% stake in the Rafa Nadal Academy to Spanish private investment firm GPF Capital. Sources said the transaction primarily involved the transfer of a real estate asset of the academy.

- Investment in Spanish Superyacht Marina Company Ocean Platform Marinas

On March 17, 2026, Nadal's investment holding company Aspemir announced the acquisition of a minority stake in Spanish superyacht marina company Ocean Platform Marinas, which operates three marinas in Málaga, Ibiza, and Seville.(See related article)

Nadal himself is an avid sailor. He owns a 23.95-meter Sunreef power catamaran named "Great White" and serves as a brand ambassador for Sunreef Yachts.

- Investment in Racket Sports Booking App Playtomic

In April 2024, Nadal invested in Playtomic, a Madrid-based developer of a squash/tennis court booking app.(See related article)

Playtomic's SaaS platform allows amateur players to book tennis and padel courts and helps clubs manage court schedules. It operates in over 50 countries and partners with more than 4,800 clubs worldwide.

- Co-founding Restaurants Tatel and Zela

In 2014, Nadal entered the high-end dining scene, co-opening a Spanish restaurant called Tatel in Madrid with private investment firm Mabel Capital. Over the years, the restaurant expanded to Ibiza, Doha, Mexico City, Valencia, and Beverly Hills.

In 2017, Nadal again partnered with Mabel Capital to co-found Zela, a restaurant in Ibiza specializing in Japanese-Mediterranean fusion cuisine, later opening a branch in London.

Notably, during the expansion of Tatel and Zela, Portuguese football star Cristiano Ronaldo invested in some branch openings. Since 2022, Nadal and Ronaldo have jointly funded Italian restaurants called Totó in Madrid, Dubai, and Abu Dhabi. However, the Madrid location closed in 2025, while the other two remain open.

- Collaboration with Armani Group for Luxury Real Estate Project in Marbella

On May 11, 2026, Nadal's co-founded real estate investment company Palya Invest, the Armani Group, and Spanish real estate developer Sierra Blanca Estates announced a partnership to build the Armani Residences Marbella project on the Costa del Sol in southern Spain. This is the Armani Group's first real estate project in Spain.(See related article)

Above: Rendering of Armani Residences Marbella.

The project site is just a 20-minute drive from Nadal's tennis academy in Marbella.

In real estate, since the 2010s, Nadal has been purchasing personal residences and investing in commercial properties in Spain through Aspemir.

In April 2025, Nadal co-founded real estate company Palya Invest with Abel Matutes Prats, president of Spanish Palladium Hotel Group, planning to invest €200 million to build 100 luxury homes along the Costa del Sol, with completion expected between 2027 and 2028.

- Other

In 2023, Nadal invested in and formed a team, Team Rafa, for the UIM E1 electric powerboat championship, competing in its inaugural season.

He has also invested in Spanish food delivery startup Glovo and tech startup Homyhub, which allows users to open garage doors via smartphone.

Beyond personal investments, Nadal's deep brand partnerships include:

• Nadal began his partnership with Kia Motors (KIA) at age 18, a relationship spanning 22 years.
• Nadal is also a brand friend of Swiss independent watchmaker Richard Mille, having collaborated on several limited-edition timepieces.

Murray

According to The New York Times, Murray has invested in over 40 companies, spanning sports and lifestyle brands, padel, fintech, innovative technology, consumer goods, entertainment, golf...

Murray told Forbes that he started paying attention to business projects from age 28, spending hours daily reading business news and market trends. He personally prefers investing in early-stage startups whose philosophy he endorses, rather than established brands.

"Investment is not without risk, but for me, success is not just about money; it's about seeing businesses grow and expand," Murray once said.

- Investment in UK Premium Men's Sportswear Brand Castore

Murray's most significant investment came in 2019: he participated in a £3.2 million funding round for UK premium men's apparel brand Castore, acquiring a major equity stake, joining the board, and becoming global brand ambassador, deeply involved in brand decisions. At the time, the brand was virtually unknown.

Castore was founded in 2016 by brothers Tom Beahon and Phil Beahon, both former professional athletes. It is known for high-performance sportswear such as half-zip pullovers, lightweight running jackets, and training pants.

Today, Castore's brand valuation is approximately $1.3 billion.

Above: Murray's AMC collection developed with Castore.

- Purchase of Scottish Castle Hotel Cromlix Hotel

In 2013, Murray bought the bankrupt Cromlix Hotel for £1.8 million. Cromlix Hotel is just a 12-minute drive from Murray's hometown of Dunblane, with a history dating back to 1593. It was a private castle until 1981, when it was converted into a luxury country hotel.(See related article)

Initially, Murray entrusted operations to a local Scottish hotel management company, but in 2023 decided to bring management in-house. They hired a professional team with years of hospitality experience, with Murray's wife Kim overseeing a full renovation and personally involved in room design.

Above: Andy Murray and his wife Kim.

This hotel has witnessed many important moments for the Murray family: In 1982, Andy's grandparents Roy and Shirley Erskine celebrated their silver wedding anniversary there, becoming among the first guests after Cromlix was converted into a hotel. Later, brother Jamie's wedding in 2010 and Murray's own wedding to Kim in 2015 were held there. The Murray family also hosts birthday parties at the hotel annually.

Cromlix features a tennis court painted in Wimbledon colors and a special umpire's chair—the same chair used during Murray's match against Federer in Glasgow.

- Investment in UK Golf Fashion Brand Manors Golf

In March 2026, Murray invested in London-based golf fashion brand Manors Golf, becoming a new shareholder. The brand specializes in functional golf apparel.(See related article)

Since retiring in 2024, Murray has devoted significant time to golf, even joking, "My kids think I'm a golfer."

In 2025, Manors Golf's sales reached £2.7 million, up 167% from 2024, and achieved near-breakeven for the first time. Management hopes to replicate this growth this year.

- Investment in Sustainable Running Shoe Brand Hylo

In April 2026, Murray invested in UK sustainable running shoe brand Hylo, becoming its global ambassador and performance advisor. Founded in 2020 by Michael Doughty, Jacob Green, and John Prescott, Hylo uses plant-based materials like corn and castor beans for its shoes. The corn fiber for the uppers comes from within 15 miles of the brand's manufacturing plant in Putian, China.(See related article)

- Other

In 2019, Murray invested in UK padel court operator Game4Padel, and earlier, he invested in Tiger Woods' sports media company TMRW Sports.

Additionally, he joined the advisory board of UK crowdfunding platform Seedrs in 2015 and has invested in over 20 startups through the platform, covering food, beverages, fintech, and more.

Djokovic

Djokovic's investment portfolio has a distinct characteristic: centered around a healthy lifestyle.

- Investment in US Gluten-Free Snack Brand Cob Foods and Co-Founder Role

In November 2025, Djokovic invested in the $5 million seed round of US gluten-free snack brand Cob Foods, becoming a co-founder.(See related article)

Cob Foods developed popcorn made from sorghum, which piqued Djokovic's interest as he follows a gluten-free diet for balanced nutrition.

His deep involvement as co-founder of Cob Foods signals a shift in his investment philosophy: leveraging his extensive knowledge and experience in health and nutrition to help portfolio brands grow long-term.

- Majority Stake in California-Based Sports Recovery Tech Company Incrediwear

In August 2025, Djokovic acquired a significant stake in wearable medical accessory technology company Incrediwear, becoming an investor and global brand ambassador.(See related article)

Incrediwear is a wearable therapeutic technology company founded in 2009 in California. Its technology uses body-temperature-activated fabrics infused with natural ingredients, promoting blood circulation and reducing inflammation through infrared and negative ion therapy. Products cover joints from hands, feet, arms, legs, back, shoulders, and waist, with prices ranging from over $10 to over $100 per item.

In the summer of 2024, after undergoing meniscus surgery, Djokovic used Incrediwear to speed up recovery, ultimately winning the men's singles gold medal at the Paris Olympics.

- Investment in Danish Juice Bar Brand Joe & the Juice

In June 2025, Djokovic announced he had become a brand ambassador and shareholder of Danish juice bar brand Joe & the Juice, supporting its franchise expansion in Serbia and Montenegro.

Founded in 2002, Joe & the Juice now primarily offers juices, coffee, and sandwiches. Its healthy, energetic image has made it popular among celebrities and sports figures.

Recently, US private equity firm General Atlantic acquired a minority stake in Joe & the Juice, valuing the brand at $1.8 billion.(See related article)

- Investment in Waterdrop and Founding of Personal Sports Supplement Brand SILA

In 2023, Djokovic invested in Austrian beverage company Waterdrop, becoming a shareholder, and subsequently co-founded his own sports supplement brand SILA with the company.

SILA offers supplements in sachet or tablet form that dissolve in water, convenient for athletes on the go, priced at around €2 per sachet (approximately RMB 16).

- Other

Other projects Djokovic has been involved in include:

• Participating in Brazilian investment firm OutField's minority stake acquisition in French football club Le Mans FC;
• Investing in global basketball league Project B;
• Acquiring an 80% stake in Danish biotech company QuantBioRes;
• Investing in US smart fitness tech company CLMBR;
• Investing in vertical farming startup OnePointOne;
• Investing in tennis rating service Universal Tennis.

...

Beyond personal investments, Djokovic has long-term partnerships with many brands, most notably with Aman Resorts. Djokovic serves as AMAN's global ambassador and wellness advisor. This year, he designed a new three-day wellness program called the "Mobility & Recovery Programme," featuring dynamic flexibility training, gym conditioning, guided stretching, spa contrast therapy, cryotherapy, spa treatments, and health-focused dining.(See related article)

| Image sources: Brand official websites, celebrity Instagram accounts, brand Instagram accounts