Agence France-Presse
Los Angeles, March 9: Maria Sharapova’s multi-million dollar business empire has plunged into turmoil as sponsors have began severing ties with the Russian tennis star a day after she admitted failing a drug test. Already Nike and Porsche have suspended the deals while TAG Heuer has not renewed the contract.
The 28-year-old, whose rags-to-riches story was the stuff of Hollywood dreams, now risks a ban which could see her carefully constructed marketing strategy collapse. Now the Russian, who arrived penniless with her family in the United States, is as much a businesswoman as a sportswoman with her fortunes estimated at USD 200 million.
Despite winning just two WTA titles in 2015 she was the highest paid sportswoman that year, earning $30 million mostly from advertising, according to American magazine ‘Forbes’.
Sharapova had signed a three-year deal to be brand ambassador for Porsche in April 2013. The Russian also won the WTA indoor tournament in Stuttgart, sponsored by the car manufacturer in 2014 which helped her leave the court in a brand new sports car.
Meanwhile Sharapova’s attorney, John Haggerty, said the positive test could carry a ban of up to four years, but that mitigating circumstances could see a lesser penalty.
Russian officials Wednesday threw their backing behind Sharapova. “I feel sorry for Masha (Sharapova’s nickname). I hope that we will see her back on court and we are prepared to support her,” sports minister Vitaly Mutko told state-run ‘TASS’ news agency.
“She travels from tournament to tournament and has a punishing schedule. The people in her team should be looking out for her,” he added.