What is Novak Djokovic's net worth after his Australian Open visa cancellation?

Novak Djokovic’s bid to become the greatest of all time in men’s tennis has been delayed and his career earnings could follow suit after he was deported from Australia earlier this week.

The world number one has earned more money on court than any other player but his inability to participate in this month’s Australian Open – and potentially future Grand Slam events as an unvaccinated athlete – will affect his earnings this year.

That, in turn, could slow increases to his total net worth as sponsors reassess their relationship with Djokovic, 34, after his protracted battle with Australian authorities over his visa and coronavirus vaccination status.

The tennis star was attempting to win a record 21st Grand Slam title at the Australian Open, which would have earned him $2.87 million.

What is Djokovic's net worth?

Djokovic has earned more than $154.7m since he turned pro in 2003. As is the case with most other professional athletes, endorsements and marketing deals contribute greatly to his net worth.

He has assets worth $220 million, according to wealth tracking website Celebrity Net Worth.

Whether he makes it back on to court or not, Djokovic has used his earnings to fund a significant portfolio of events and businesses that could serve him well when he chooses – or is forced – to retire.

“His image is going to be tarnished because of this situation, because most of the players who play in this tournament [Australian Open] are vaccinated and have respected the rules,” Josh Schwartz, in charge of athlete marketing at American agency Pivot, told AFP.

Sponsors will be watching to determine the impact of Djokovic’s actions.

“We are what the world sees,” says UAE-based personal brand expert and business mentor Kelly Lundberg. “Sponsorship is huge business, most are seen as a partnership that is mutually beneficial for both sponsor and endorser. When entering into such an arrangement having a carefully considered sponsorship strategy is key to protecting both brands.

“Public figures need to remember that they are accountable to set an example for their peers and followers. Reckless and controversial actions may cause them to lose deals and seriously affect their brand credibility which will take them time and effort to recover from,” Ms Lundberg added.

How much does Djokovic earn from sponsorship deals?

Djokovic's lead sponsor Lacoste has said it wants to discuss events leading up to the player’s visa battle, which led to him being detained by Australia’s Border Force at the airport and subsequently in a hotel for asylum seekers, before he was freed to contest the issue in court.

As soon as possible, we will be in touch with Novak Djokovic to review the events that have accompanied his presence in Australia

Lacoste,
Djokovic's lead sponsor

“As soon as possible, we will be in touch with Novak Djokovic to review the events that have accompanied his presence in Australia,” the French clothing brand said on Monday.

“We wish everyone an excellent tournament and thank the organisers for all their efforts to ensure that the tournament is held in good conditions for players, staff and spectators.”

Lacoste is thought to be Djokovic’s biggest sponsor with an annual contract worth a reported $9m, according to American media. The deal runs until 2025.

The Serbian star banked sponsorship deals worth $30m in the year to August 2021 and on-court winnings of $4.5m over the same period, according to estimates by Forbes magazine.

Brands working with Djokovic include Japanese sports equipment maker Asics, Swiss watch brand Hublot, American-Austrian racket manufacturer Head and French carmaker Peugeot.

For now, most brands are playing a waiting game as executives wait to see how events unfold and what the future holds, given that other tournaments are considering whether to enforce vaccination rules.

“As a sponsor, we are closely monitoring the continuing situation,” Vienna-based Raiffeisen Bank said.

It said its partnership dates back to “long before the reporting on the vaccination status of Novak Djokovic or his participation in the Australian Open”.

The financial institution signed on the player as an ambassador in April and announced its support of the recently established Tennis Academy of Novak Djokovic in Belgrade.

Hublot, which linked up with Djokovic in August, said its association would continue.

“Novak Djokovic is his own man. We cannot comment on his decisions. Hublot will continue its partnership with the world number one in tennis,” a spokeswoman told AFP.

They may be betting that sports fans will continue to embrace the famously fiery Serb – although his tantrums have notably seen him disqualified at least once, at the 2020 US Open.

Rival Roger Federer, on the other hand, has no such problems. His “nice guy” personality helped him bank pre-tax earnings of $90.6m in the year to September, three times as much as Djokovic.

Nevertheless, fans will only rationalise athletes’ behaviour up to a point. His continued stance against Covid-19 vaccinations could force fans to desert Djokovic in droves, with sponsors following suit, experts say.

“Sponsorship deals focus not only on the performance of the endorser, they focus on the image and message they communicate. That can come at a price when things go wrong! Increasingly we have seen that brands won’t think twice about dropping sponsorship if a client courts controversy creating unfavourable social media backlash,” Ms Lundberg says.

Cyclist Lance Armstrong lost sponsors such as Nike, bike maker Trek and brewer Anheuser-Busch in 2012 after his doping scandal. When tennis star Maria Sharapova failed a drug test in 2016, sponsors such as Nike, Porsche and watch brand Tag Heuer withdrew their support.

However, anti-vaccine statements have not hurt athletes so far. When NFL quarterback Aaron Rodgers made ambiguous comments about vaccination in November, he was only dropped by one sponsor: Prevea Health. Nor did NBA basketball star Kyrie Irving suffer after speaking out against vaccination policies for athletes in New York state.

However, “if you lose enough fans, then you will lose sponsors”, Nicole Melton, professor of sports management at University of Massachusetts Amherst, told AP.

By one measure, at least, Djokovic may already be losing points with his admirers. Gemba, an Australia-based communications agency, tracks the likeability of athletes, teams and leagues on a proprietary index.

In 2017, 30 per cent of Australians liked Djokovic, with only 10 per cent disliking him. Five years later, a quarter of Australians disliked Djokovic in 2021, compared with 20 per cent who liked him.

On the other hand, that contrasts with scenes in his home country this week. Arriving in Belgrade via Dubai on Monday, Djokovic was given a hero’s welcome, with crowds of fans chanting his name and waving banners. The previous evening, a building in the Serbian capital was illuminated with the words, “Nole, you are the pride of Serbia”, referring to the player’s nickname.

Overall, new sponsors may well wait until the dust settles. Djokovic’s admission of not isolating despite testing positive in December could result in his character being further questioned.

“Any company that maybe was on the fence about working with him, this particular incident is just going to fuel the flames for not choosing to work with him, at least in the near term,” Patrick Rishe, professor of sports economics at Washington University in the US city of St Louis, told AFP.

“It is unfortunate because he is on the cusp of setting the record for Grand Slam victories. Normally, when someone reaches this status, you would think there would be endorsement opportunities but I do not see any coming up in the short term.”

Does Djokovic face playing restrictions?

Fan problems may pale in comparison to court dramas of a different kind. Djokovic could be kept away from the source of his wealth over the short term at least, with his participation in other tennis events this year looking uncertain thanks to his unvaccinated status.

France’s sports ministry said on Monday that nobody would be exempted from the country’s new vaccine pass law.

“The rule is simple. The vaccine pass will be imposed, as soon as the law is promulgated, in establishments that were already subject to the health pass. This will apply to everyone who is a spectator or a professional sportsperson. And this [is] until further notice,” the ministry said, while acknowledging that the situation could change before the French Open at Roland Garros in May.

Similar rules would apply at the Madrid Open in April. Current entry rules to the US – covering Indian Wells and the Miami Open in March and the US Open in August – require those travelling to the US to be vaccinated unless they are citizens, permanent residents or travelling on an immigrant visa.

Defending his title at Wimbledon will require him to adhere to a significant quarantine and testing regime.

As the top seed going into most tournaments, Djokovic could lose out on millions of dollars. The top prize at this year’s Australian Open is $2.87m, a 4.55 per cent increase from 2021, while the runner-up receives $1.57m.

Final purses for the other Grand Slams have not been confirmed but 2021’s top prizes at the three remaining tournaments add up to about $6.73m after currency conversions.

Additional playing income may come from exhibition matches and bonuses.

Tennis players’ endorsement contracts usually include reductions if they do not meet minimum play requirements. While the biggest players often negotiate exemptions, sponsors nevertheless bank on their ambassadors being seen in action on court – and lifting a trophy. Nothing sells like success.

Does Djokovic have other business interests?

So far, Djokovic has attempted a modicum of damage control. On Sunday, he said he was disappointed but respected Australia's Federal Court ruling that upheld the government's deportation order.

“I am uncomfortable that the focus of the past weeks has been on me and I hope that we can all now focus on the game and the tournament I love,” he said before flying out of Melbourne.

Should he be forced to serve fewer balls, Djokovic has a significant business empire to fall back on. In 2005, he set up a company, Family Sport, with his parents and his younger brothers.

It serves as the umbrella organisation for a range of business ventures, including restaurants and catering, and organises the Serbia Open, an ATP Tour event that has run intermittently since 2009.

In 2009, he opened his first restaurant in Dorcol, Belgrade, following up with another in the nearby municipality of New Belgrade. Both draw locals and tourists, not least for their gluten-free menu.

I am uncomfortable that the focus of the past weeks has been on me and I hope that we can all now focus on the game and the tournament I love

Novak Djokovic

The tennis star launched a chain of consumer packaged foods, Djokolife, in 2015, but the products have not been promoted online since 2016.

Djokovic also owns a portfolio of prime real estate, including a two-bedroom apartment in Monte Carlo, one of the world’s most expensive property markets, two apartments in New York City and a three-bedroom penthouse in Miami.

Whether he will need to become a full-time entrepreneur sooner than he expected remains to be seen. For now, experts believe Djokovic could soon be back on court.

“As consumers, we have very short memories,” Joe Favorito, a sports marketing specialist who teaches at Columbia University in the United States, told AFP.

“We love heroes and villains and we love seeing people overcome hardships. If Novak Djokovic comes back, anywhere, it will top all of that because he did not break any laws. This is just his opinion. It in no way diminishes what he has done on the courts.”

Who were the world's top-earning tennis players in 2021?

Roger Federer – $90 million
Naomi Osaka – $60m
Serena Williams – $41m
Novak Djokovic – $38m
Rafael Nadal – $27m
Kei Nishikori – $26m
Daniil Medvedev – $13m
Dominic Thiem – $8.9m
Stefanos Tsitsipas – $8.1m
Ashley Barty – $5m

Source: firstsportz.com

Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

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Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.

You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.

This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”

This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.

The past winners

2009 - Sebastian Vettel (Red Bull)

2010 - Sebastian Vettel (Red Bull)

2011 - Lewis Hamilton (McLaren)

2012 - Kimi Raikkonen (Lotus)

2013 - Sebastian Vettel (Red Bull)

2014 - Lewis Hamilton (Mercedes)

2015 - Nico Rosberg (Mercedes)

2016 - Lewis Hamilton (Mercedes)

2017 - Valtteri Bottas (Mercedes)

Key figures in the life of the fort

Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.

Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.

Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.

Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.

Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.

Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.

Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.

Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.

Sources: Jayanti Maitra, www.adach.ae

How to apply for a drone permit

Individuals must register on UAE Drone app or website using their UAE Pass
Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
Upload the training certificate from a centre accredited by the GCAA
Submit their request

What are the regulations?

Fly it within visual line of sight
Never over populated areas
Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
Users must avoid flying over restricted areas listed on the UAE Drone app
Only fly the drone during the day, and never at night
Should have a live feed of the drone flight
Drones must weigh 5 kg or less

David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

Western Region Asia Cup Qualifier

Results

UAE beat Saudi Arabia by 12 runs

Kuwait beat Iran by eight wickets

Oman beat Maldives by 10 wickets

Bahrain beat Qatar by six wickets

Semi-finals

UAE v Qatar

Bahrain v Kuwait

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So what is Spicy Chickenjoy?

Just as McDonald’s has the Big Mac, Jollibee has Spicy Chickenjoy – a piece of fried chicken that’s crispy and spicy on the outside and comes with a side of spaghetti, all covered in tomato sauce and topped with sausage slices and ground beef. It sounds like a recipe that a child would come up with, but perhaps that’s the point – a flavourbomb combination of cheap comfort foods. Chickenjoy is Jollibee’s best-selling product in every country in which it has a presence.

What is graphene?

Graphene is extracted from graphite and is made up of pure carbon.

It is 200 times more resistant than steel and five times lighter than aluminum.

It conducts electricity better than any other material at room temperature.

It is thought that graphene could boost the useful life of batteries by 10 per cent.

Graphene can also detect cancer cells in the early stages of the disease.

The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.

Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.

- Abdullah Ishnaneh, Partner, BSA Law

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The specs: 2019 Infiniti QX50

Price, base: Dh138,000 (estimate)
Engine: 2.0L, turbocharged, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 268hp @ 5,600rpm
Torque: 380Nm @ 4,400rpm
Fuel economy: 6.7L / 100km (estimate)

The Travel Diaries of Albert Einstein The Far East, Palestine, and Spain, 1922 – 1923
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Princeton

France and Covid-19

France orders 250 million masks to ease shortage

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What is a robo-adviser?

Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.

These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.

Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.

Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.

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