Nike has suspended its relationship with Maria Sharapova following her announcement Monday about her failed drug test.
Nike sent out this statement Monday, as shared by CNBC:
BREAKING: Nike suspends relationship with Maria Sharapova after the tennis star said she failed a drug test. pic.twitter.com/F262QdNcs7
— CNBC Now (@CNBCnow) March 8, 2016
Sharapova tested positive for Meldonium at the Australian Open in January and has not played in an event since then. She said in an announcement on her website that she has been taking the drug for 10 years for a health issue. It only became a banned substance as of 2016.
Sharapova is one of the most marketable female athletes in the world. She reportedly signed a $70 million contract with Nike in 2010 that was set to run for eight years. In addition to Nike, she has deals with Porsche, Avon Fragrances, and more, bringing in what’s estimated to be more than $20 million annually.
With this move Nike is showing once again that it has raised the standard for athletes representing its brand. She joins this famous boxer as an athlete the company recently distanced itself from.
