After the disturbing news of a failed drug test, major sponsors including Porsche, Tag Heuer, Evian, Avon and Nike have suspended working r...
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After the disturbing news of a failed drug test, major sponsors including Porsche, Tag Heuer, Evian, Avon and Nike have suspended working relations with Maria Sharapova named the world's richest female athlete by Forbes for 11 consecutive years.
Those sponsorships and business interests dwarf her career prize money of $37 million. But even if Sharapova didn't intend to break the rules, her backers are likely to disassociate themselves. Two have already done so, footwear and apparel giant Nike and watchmaker Tag Heuer. |
| Maria Sharapova Dumped By Her Sponsors |
"We are saddened and surprised by the news about Maria Sharapova," Nike said in a statement. "We have decided to suspend our relationship with Maria while the investigation continues."
Tag Heuer is suspending negotiations with Sharapova. Her sponsorship deal was due to expire in December. Porsche, meanwhile, is postponing its sponsorship activities with her.
"Such drugs revelations tip the balance of power in favor of sponsors meaning that, in future contract negotiations, the tennis player may have to accept reduced terms when signing new commercial deals," Professor Simon Chadwick of Manchester's Salford University told CNN.
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| Sharapova With A Nike Brand |
"Arguably of more concern for Sharapova's brand is the impact that drugs associations may have on some of the products she has started to sell in her name," added Chadwick.
"For example, a confectionary product that youngsters might normally be expected to consume may suffer the consequences of consumer reactions to her positive drugs test." - Online Sources
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