The 39-year old lost in the quarter-finals of Wimbledon this year but anticipates re-joining the tour for the hard-court swing later in the year.
The Swiss won doubles gold at Beijing 2008 alongside Stan Wawrinka and silver in 2012 in the singles after losing to Andy Murray in the final in London.
Federer, now ranked number nine in the world, had two knee surgeries in 2020.
In the last two years, he has seen his Grand Slam tally equaled by Spain’s Rafael Nadal at the 2020 French Open and most recently by Serbia’s Novak Djokovic who won a record-equaling 20th major at Wimbledon.
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