Nike, TAG Heuer, Porsche Suspend Ties With Sharapova [VIDEO]

Nike announced Monday it was suspending its relationship with tennis star Maria Sharapova just hours after the world’s highest paid female athlete announced she failed a drug test at the Australian Open in January. Sharapova said she took β€œfull responsibility” for using meldonium, a substance banned by the World Anti-Doping Agency. The 28-year-old career Grand Slam winner said she took the medication to treat a magnesium deficiency and a family history of diabetes. Watchmaker Tag Heuer, which has had a deal with Sharapova for nearly a dozen years, said it had stopped negotiations with the tennis player, whose previous contract had ended in December. β€œIn view of the current situation, the brand has decided not to renew the contract with Sharapova,” a spokesperson said. Other endorsements for the world’s former No.1 player included deals with Avon, Porsche, and Evian. Until now, Sharapova reportedly brought in about $30 million per year in endorsements, mostly from Nike.