Sportswear giant, Nike, has suspended its endorsement deal with Maria Sharapova, hours after the tennis player announced she has tested positive for an illegal heart drug, meldonium. Sharapova
In a short statement, Nike said it was saddened and surprised by the disclosure but maintained that it would continue to monitor the situation.
“We are saddened and surprised by the news about Maria Sharapova. We have decided to suspend our relationship with Maria while the investigation continues. We will continue to monitor the situation,” the statement by Nike read.
Sharapova is reported to bag about $30 million per year in endorsements, much of which comes from Nike deal, with whom she has a reported $70 million deal. She’s also endorsed by Porsche, Tag-Heuer, Avon and Cole Haan and also has her own candy line.
Recently, Nike cut ties with Philippine boxer, Manny Pacquiao following his comment on gays.