Ben Shelton's Next Deal Could Be the Biggest in American Men's Tennis History

As his On contract expires, the 23-year-old superstar is about to find out exactly what he's worth

The 2025 Canadian Open will live long in the memory for anyone who was fortunate enough to be there. Ben Shelton defeated Karen Khachanov 6-7, 6-4, 7-6 in the final — a come-from-behind victory that had Sobeys Stadium on its feet from the first point of the deciding set.

I was in the stands that night. What struck me wasn't just the result — it was the presence. Shelton's serve was so ferocious that he instructed the ball kids not to attempt to catch his wide deliveries, for fear of injury. Here was a player competing on Canadian soil, in a foreign city, yet with an entire stadium fully behind him. The roar when he won wasn't polite applause. It was the sound of a fanbase claiming him as their own.

That is exactly what On saw when they signed a 20-year-old ranked 39th in the world back in 2023. Not just a tennis player — a phenomenon in waiting.

According to Hard Court's Jessica Schiffer, that partnership is now entering its final chapter. Shelton's head-to-toe apparel and footwear contract with the Swiss sportswear brand is set to expire at the end of 2026. And the sportswear industry is paying very close attention.

The Deal That Started It All

Back in March 2023, On made one of the more quietly bold moves in recent tennis sponsorship history. The Swiss brand — then still largely known as a running shoe company backed by Roger Federer — signed Shelton as their first ever active men's tennis player on a full head-to-toe deal.

At the time, Shelton was ranked 39th in the world and had just completed his debut ATP season after turning professional in 2022. He had shown plenty of promise, but signing him as the centrepiece of your entire tennis strategy was a genuine statement of belief.

Shelton himself explained the appeal clearly. Speaking to Front Office Sports in 2024, he noted that at Nike or Adidas, he'd be one of 20 players wearing the same kit. At On, he was the first. He had direct access to company leadership and the ability to grow with the brand — something he doubted he'd experience at one of the giants.

That bet has paid off handsomely for both sides.

Three Years On — What's Changed

Since signing with On, Shelton has become the most compelling young male tennis player in America — and one of the most marketable players on the entire ATP Tour.

The results speak for themselves. He's climbed to a career-high ranking of No. 5, reached the semifinals of both the 2023 US Open and the 2025 Australian Open, and last August claimed his first Masters 1000 title right there in Toronto — becoming the youngest American man to win a Masters event since Andy Roddick at the 2004 Miami Open. Earlier this year in Munich, he became the first American man to win a clay title at ATP 500 level or above since Andre Agassi at the 2002 Italian Open. That's a remarkable stat for a 23-year-old.

But results alone don't fully explain why brands are circling. What makes Shelton genuinely special from a commercial perspective is his personality. The on-court roars, the fist pumps, the willingness to speak his mind — none of it feels manufactured. In an era where authenticity drives social engagement and campaign virality, that's incredibly valuable.

A moment from the 2025 US Open press conference illustrates it perfectly. When a reporter tried to draw a comparison between his On partnership and Jack Draper's switch from Nike to Vuori, Shelton shut it down immediately. "So, On is not a big company? Did you see the earnings report a couple of weeks ago? Is not Nike or Adidas? Sorry, man. I don't like that question." The clip went viral almost instantly. It showed a player who understands his commercial world, backs his partners publicly, and does it with the kind of natural charisma that brands spend millions trying to find.

The Market He's Walking Into

The sportswear landscape Shelton is about to negotiate within is more competitive than ever — and that works very much in his favour.

On is no longer the underdog brand that took a chance on an unknown American teenager. The company surpassed CHF 3 billion in annual revenue in 2025 and is projecting at least 23% growth in 2026. Federer's involvement has given it cultural credibility well beyond running, and their tennis roster — Shelton, Iga Swiatek, João Fonseca — reflects a clear strategy to own the next generation of the sport. Keeping Shelton isn't just commercially sensible for On. At this point, it's strategically critical.

That said, the giants aren't sitting still. Nike has become increasingly selective with its tennis investments, concentrating resources on a smaller number of marquee athletes. Jannik Sinner and Carlos Alcaraz both renewed recently on deals that include their own signature logos — an honour previously reserved for Federer and Nadal. An American male star of Shelton's calibre is exactly what Nike needs to strengthen its foothold in the US tennis market. Adidas, meanwhile, has aggressively held onto its elite tennis talent and would view Shelton as a premium American acquisition.

According to Schiffer's reporting, multiple major brands have already shown interest. If that bidding war fully develops, Shelton will be negotiating from a position of real strength.

What's He Actually Worth?

Tennis sponsorship figures are rarely made public, but recent deals give us a useful framework.

Coco Gauff — the benchmark for young American tennis stars commercially — earns an estimated $21 million annually across her full sponsorship portfolio, with New Balance as her anchor partner since she was 14 years old. On the men's side, Carlos Alcaraz's Nike extension is reported at $15-20 million per year over approximately a decade — a deal that also includes his own custom logo. Roger Federer's Uniqlo agreement ran at a reported $30 million annually, signed toward the end of his playing career.

Shelton is 23, ranked No. 5 in the world, a Masters champion, and the No. 1 American male player on tour. He's also — and this matters enormously to brands — the kind of athlete who resonates well beyond the sport's core audience. His energy, his personality, and his story translate into lifestyle campaigns, not just tennis kit. A deal pushing toward that $15-20 million range annually would be historic for an American men's player. Based on everything happening around him right now, that conversation is very much on the table.

Filling a Very Long Vacancy

To understand the full significance of Shelton's commercial moment, it helps to look back at the history of American men's tennis sponsorship.

Andre Agassi was Nike's marquee tennis investment for a generation. Style, charisma, and Grand Slam results made him one of the most marketable athletes across any sport. After Agassi — and Pete Sampras alongside him — American men's tennis entered a prolonged commercial dry spell. Roddick, Isner, Fish, Querrey were all solid professionals, but none crossed over commercially the way brands had come to expect from American tennis stars.

Shelton changes that narrative. He has the results to command elite sponsorship conversations, the personality to carry campaigns across platforms, and the nationality that puts him at the top of the priority list for brands targeting the American market. Gauff has already shown what's possible when results, personality, and timing come together for a young American tennis star. Shelton is the men's version of that moment — and the brands circling him right now are well aware of it.

So What Happens Next?

According to Hard Court, if Shelton re-signs with On, an announcement is likely around the US Open. If he moves elsewhere, news would probably surface early next year.

Either way, it's a significant moment — not just for Shelton, but for the business of tennis in America. A renewal would confirm that On is ready to pay what a genuine superstar commands, cementing their status as a long-term force in the sport. A departure would be one of the most talked-about brand switches since Federer left Nike for Uniqlo back in 2018.

Ben Shelton was 20 years old and ranked 39th in the world when he first wore On. He is now 23, ranked fifth, a Masters champion, and comfortably the most commercially compelling American male tennis player of his generation. His next deal is going to reflect exactly that — and it's one worth watching closely.

Jake Scudder

Journalist - topics of tennis