Maria Sharapova’s long-term contract with Nike is in jeopardy after the Russian confirmed she failed a drug test.
The five-time Grand Slam champion has been in various contracts with Nike since the age of 11. In 2010 she signed an eight-year contract with the company worth almost $70 million (including royalties). Sharapova has enjoyed a close bond with the company and has her own line of clothing with them called ‘The Maria Sharapova Collection’. She also receives a percentage from the sales of her named clothing from Nike. The suspension of the partnership was confirmed in a statement released by Nike.
“We are saddened and surprised by the news of Maria Sharapova. We have decided to suspend our relationships with Maria while the investigation continues. We will continue to monitor the situation.” The statement reads.
In recent times Nike has been under security with their relationship with athletes marred by doping. In 2015 they came under sharp criticism after rewarding athlete Justin Gatlin a new sponsorship deal. Gatlin has failed a drug test twice in his career and served a four-year ban between 2006-2010.
The 28-year-old has enjoyed significant success with sponsorship deals throughout her career. Last year Forbes named Sharapova the 26th highest paid athlete in the world, earning $29.7 million. She has been the highest paid sportswoman in the world for eleven consecutive years and was named ‘the most marketable sportswoman in the world‘ in 2015.
Sharapova has a wide range of sponsorship deals besides Nike. Others include a five-year deal with Evian and a three-year deal with Porsche. Nevertheless, Nike is Sharapova’s biggest contract.
Endorsements are a massive part of Sharapova’s income. Out of the $29.7 million she earned last year, $23 million of the came from endorsements. This equated to 77% of her 2015 income.
Update 0900 CET 8/3/2016
Swiss watch brand TAG Heuer has confirmed that they will not be renewing their contract with Sharapova. The Russian was currently in talks with the company about extending her collobration, however, in a statement Tag Heuer have decided against the idea following her failed drugs test.
“Maria Sharapova was under contract with TAG Heuer until December 31, 2015. We had been in talks to extend our collaboration. In view of the current situation, the Swiss watch brand has suspended negotiations and has decided not to renew the contract” The statement reads.
More Details on Maria Sharapova’s failed drug test:
Maria Sharapova Reveals Failing a Drug Test at Australian Open (VIDEO)
What Could Happen to Maria Sharapova After Testing Positive to Doping?
