Knowles believes that if Jimmy Connors' mark of 109 comes in reach for Federer, it could change his situation with similar being if he wins one more Grand Slam title or an Olympic gold medal.
“We probably assume next year is his last year,” Knowles told the Tennis Channel.
“So he gets three or four more titles and gets to 107, it has got to change for the following year right?”
He added: “If he is able to get one more Grand Slam title that maybe changes the narrative.
“If he wins a couple more titles early in the season next year, does that change the narrative?
“Because of the Olympics in Tokyo we think that might be it but it can all change.”