Three major brands have suspended their relationship and contracts with tennis star Maria Sharapova following her failed drug test.
Nike, TAG Heuer and Porsche have all announced that they are suspending their contracts pending a further investigation into the news.
Sharapova announced yesterday that she tested positive for the banned substance meldonium, a drug known to increase exercise capacity, at the Australian Open.
While Sharapova claims she had taken the substance for medicinal purposes, the drug was banned on January 1 of this year.
In addition to her sponsorship loses, the tennis star will also be banned from participating in field events starting March 12.
“I made a huge mistake. I let my fans down and I let the sport down. I take full responsibility for it.,” said Sharapova in a press conference, “I know that with this I face consequences, and I don’t want to end my career this way. I really hope that I will be given another chance to play this game.”
Sharapova also has sponsorship contracts with Avon perfume and Evian water brand, who have yet to comment on the status of their relationship with Sharapova.
Though she isn’t the only tennis star to test positive for the drug (her fellow tennis players Ekaterina Bobrova and Eduard Vorganov have tested postive too)- she is the biggest and highest paid star to test positive.
While we’re sure these sanctions are hitting her hard in the heart, they’re also hitting her hard in the wallet- as $29.5 million of her earnings in 2015 came through these (now lost) sponsorship deals.