Coco Gauff will become the highest-paid female athlete in the world over the next 12 months and the American has opened up on creating a balance between the tennis and sponsorship duties.
Gauff concluded her season on Saturday in the chaotic Cancun onslaught that offered high winds, rain and substandard turf to play at the showpiece event. She was beaten by her doubles partner Jessica Pegula in the semifinals. The youngster clinched her maiden major at the US Open earlier in September and is currently enjoying a much needed and well-earned break before resuming the on-court duties at the first Grand Slam of 2024 in Australia. As the promising career of the prodigy expands, she is set to build and expand her business empire in the upcoming year, thanks to some stellar sponsorship deals she now has on her hands.
The 19-year-old is one of the most recognized female tennis players and is now tapping her share of sponsors as she builds her career. Her current key backers include New Balance, Baker Tilly, Barilla and UPS.
Gauff has admitted that it is not easy to carry the double duty of sponsorships alongside dialy court work. According to Forbes reports, the 2023 US Open Champion has earned $8 million is sponsorship deals in 2022 and that number will surpass $10 million mark in 2024.
The World No. 3 has revealed that there are big demands from sponsors in a media landscape that is always growing and advocating gender equality. She however, acknowledged the fact that the off-court commitments can be time-consuming and are not that easy to honor even for high-profile athletes.
“From a sponsorship standpoint, we’re getting some good money compared to the men. At least in my position,” she said.
“I wouldn’t say it’s more so like a contract thing. Yes, there’s still a gender gap, but I feel like now a lot of the brands want to get more women and want to be more diverse. Especially with me being a black woman.
“One of the reasons New Balance was keen to work with me from a young age was because they wanted to be more diverse. People think it’s a big gap, but I don’t think so.
“At least in tennis when it comes to sponsorships and contracts and all of that. Obviously, the prize money is something we can work on.
“Winning US Open, obviously if you win a Grand Slam you get more brands reaching out to you. These commitments take a lot.
“People think we just post a photo on the internet with that brand. People don’t realize it’s like an 8-hour or 10-hour day. Lots of times you have commitments or have to do an event.
“For me it’s just been about trying to still capitalize on the moment, but also protecting my peace and my mental health and still playing the game I love. I think my team has done a great job helping me with that.”
Gauff added that eagerness on the part of sponsors to promote elite female athletes around the globe suggests that the top businesses and brands have a realization that they can get financial benefits by inking these sponsorship deals.
“I’d say the growth in women’s sports, a lot of brands are gonna reach out to more women athletes because they see how much they can monetize from this.
“I know there are some people online who act like women’s sports isn’t a thing, but people really enjoy seeing us play.
“I think as much as we can market ourselves, and market not just tennis, but other sports in general, it’d be better for everyone. Not just in sports. Hopefully it can transcend into other places of work and in business and other things like that.
“So I’m grateful to be in that position. Especially as a black woman, doing this. I’m thankful for all the people who paved the way so I can be in this position.”