Nike suspends £43m Maria Sharapova endorsement deal following failed drug test at Australian Open
Maria Sharapova could lose millions in future sponsorship earnings, after partners such as Nike, Tag Heuer and Porsche moved responded with concern to her admission of failing a drugs test.
Sportswear giant Nike said it was "saddened and surprised" by Sharapova's confession that she had tested positive for meldonium, a substance added to the World Anti-Doping Agency's (Wada) banned list on 1 January 2016, and moved to suspend its relationship with the Russian tennis star.
Read more: Sharapova career in doubt after failed drugs test
Sharapova earned around £16m from endorsements last year and was named the highest-earning female athlete in the world by Forbes.
Yet the five-time grand slam champion could miss out on over £20m if Nike – with whom she has enjoyed a relationship since she was 11-years-old – chooses to drop her from its roster permanently as there are still three years remaining on an eight-year contract worth £43m.
Porsche said they would "postpone planned activities" with the 28-year-old while Swiss watchmaker Tag Heuer has "suspended negotiations" to renew an endorsement deal that expired at the end of last year.
Mineral water manufacturer Evian said: "Until now, we have maintained a trustworthy professional relationship.
"Evian attaches great importance to health, to integrity and to transparency, and we will follow closely the development of the investigation."