Getty Images / Kevork Djansezian

Maria Sharapova's Failed Drug Test Is Costing Her Millions In Sponsors

After Maria Sharapova said she failed a drug test, Nike, Porsche and TAG Heuer suspended their relationships with the tennis star.

By Matt Moreno | March 8, 2016

One failed drug test is costing international tennis star Maria Sharapova millions of sponsorship dollars.

"A few days ago I received a letter from the ITF that I had failed a drug test at the Australian Open. I did fail the test, and I take full responsibility for it," Sharapova said during a press conference.

Nike has announced it will suspend its sponsorship with her "while the investigation continues." The company is reportedly her most lucrative sponsor.

Article Continues Below

German automaker Porsche announced it's also suspending its deal with the 28-year-old Russian-born player.

Swiss watchmaker TAG Heuer, whose sponsorship deal with Sharapova ran out at the end of 2015, said negotiations on a new deal are being tabled after the announcement.

These sponsorship dollars are big deals for athletes who aren't getting massive dollars from team contracts.

Forbes ranks Sharapova as the world's highest paid female athlete, bringing in an estimated $29.7 million — $23 million from endorsement deals.

Sharapova still has several sponsorship deals on the table that have yet to announce their decisions. Still, Sharapova isn't the only Olympic athlete to have sponsors drop out amid controversy.

In 2012, sponsors left cyclist Lance Armstrong after evidence surfaced of him doping.

Nike, Anheuser-Busch InBev, Trek Bicycle Corp. and more dropped Armstrong. He's since been stripped of his seven Tour de France titles.

Despite the positive drug test at the Australian Open, Sharapova says she still plans to travel and compete in the 2016 Summer Olympics in Rio de Janiero.

This video includes clips from HEAD TennisEvianOWN / "Oprah's Next Chapter," and NBC Sports and images from Getty Images.

Want to see more stories like this?
Like Newsy on Facebook for More Olympics Coverage