Djokovic Hires IMG to Manage Career After Leaving CAA

Top-ranked Novak Djokovic signed a multiyear management agreement with IMG Worldwide Inc., joining a stable of tennis stars that includes Rafael Nadal, Maria Sharapova and Venus Williams.

Djokovic said in August that his contract with Creative Artists Agency had expired after four years. He will work with IMG to build his brand through “marketing, endorsements, appearances, licensing deals and select global business initiatives,” the New York-based company said in a statement.

“I’m very happy with how my career has been advancing these past few years,” Djokovic said. “Working with IMG will continue to build off of that momentum. IMG’s expansive global footprint will offer me a truly unique set of resources to explore business opportunities that simply do not exist anywhere else in the industry.”

Djokovic, a 25-year-old Serbian, is a five-time Grand Slam champion, having won the Australian Open in 2008, 2011 and 2012, as well as Wimbledon and the U.S. Open a year ago. He is ranked No. 1 on the ATP World Tour.

Djokovic has won $45.7 million in prize money in his career, and was ranked 61st in annual earnings on Forbes’s June list of the world’s highest-paid athletes at $20.6 million in tournament purses and sponsorships. His endorsement deals include Daimler AG (DAI)’s Mercedes Benz, airplane maker Bombardier Inc. (BBD/B), Fast Retailing Co. (9983)’s Uniqlo clothing stores, Serbian phone company Telekom Srbija AD, watchmaker Audemars Piguet Holding SA, and sporting goods maker Head NV (HEAD), and he also helps promote children’s charity Unicef, according to his website.

IMG manages athletes in other sports such as football player Peyton Manning, baseball player Joe Mauer and skier Lindsey Vonn.

Roger Federer, the winner of a men’s record 17 Grand Slam singles championships, and his agent, Tony Godsick, left IMG in June when their contracts ran out. The Swiss player is the sport’s top money maker, with an annual income of $52.7 million according to Forbes.

To contact the reporter on this story: Mason Levinson in New York at mlevinson@bloomberg.net

To contact the editor responsible for this story: Michael Sillup at msillup@bloomberg.net

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