The biggest loser in sporting history
Maria Sharapova’s potential sponsorship losses could amount to £100m, write Neil Sears and Daniel Bates
SHE HAS been the best-paid female athlete in the world for 11 years, earning more off the tennis court than on it. Not any more. Maria Sharapova, 28, could now become the biggest financial loser in sporting history, missing out on estimated future earnings of as much as £100 million.
Nike, Porsche, and TAG Heuer all confirmed last night their association with the Russian tennis star would be suspended after she failed a drugs test.
Other firms, including Avon, American Express and Head tennis racquets, are likely to follow suit. It is unlikely any firm will pay to be associated with such a high-profile drug cheat.
And as former Wimbledon winner Sharapova also faces a four-year ban from tennis, she will be unable to earn any money on the court.
She will even have to pay back the £209 000 she earned for reaching the quarter-final of this year’s Australian Open – the tournament at which she failed the test, and which now may prove to be her last.
By the time the ban is over, she is likely to remain damaged goods as far as sponsors and advertisers are concerned.
Her other sponsors were understood to be preparing a response to Sharapova’s shock announcement on Monday night that she made a “huge mistake” after lawfully taking meldonium for 10 years for claimed health reasons – but continuing to do so after it was added to a list of banned substances in January.
She said it had been prescribed by her family doctor for health issues, including magnesium deficiency and “irregular” heart test results – as well as due to a family history of diabetes.
To compound matters, she insists neither she nor her coaching staff saw the e-mail sent out in December saying the substance would be banned from January 1 this year.
Sharapova also has deals with Evian and jewellers Tiffany & Co, who last night had yet to respond. Cosmetics company Avon declined to comment.
The US-based star, ranked seventh in the world, has an estimated wealth of £137m (R3 billion), more than any other tennis player, although her prize money of £25.8m amounts to less than a fifth of the total.
Serena Williams has amassed £52.8m in prize money but is worth significantly less overall, at just over £100m.
The days of easy money now look over for Sharapova.
Sportswear giant Nike said on Tuesday night said it was putting its relationship with the five-times Grand Slam winner on hold and was “saddened and surprised” by her conduct.
The Russian player had been enjoying the fruits of an eightyear, £50m deal with Nike that she signed in 2010. She was first associated with the company when just 11.
Watchmaker TAG Heuer said it would not be renewing Sharapova’s contract and Porsche suspended promotional work with her.
A spokesman said: “We had been in talks to extend our collaboration. In view of the current situation, the brand has decided not to renew the contract with Sharapova.”
Porsche had signed a three-year deal with Sharapova in 2013 to become its first female ambassador. On Tuesday night, a spokesman said: “We are saddened by the recent news announced by Maria Sharapova.
“Until further details are released and we can analyse the situation, we have chosen to postpone planned activities.”
Sports marketing expert Nigel Currie said Sharapova’s losses could be bigger than those of Tiger Woods after he was caught cheating on his wife, and of cyclist Lance Armstrong after he was exposed as a drug cheat.
Currie said: “If Maria does get a fouryear ban, then that probably is it for her as a top tennis player – and we are talking about potential losses of £100m.
“Her player earnings pale into insignificance compared to her off-court endorsement, and she has been the highest-paid sportswoman for 11 years and is a marketing dream. “Maria has blue-chip sponsors with huge contracts, and they will all be looking at this situation very seriously.”
Nike had been just as swift to cut ties with boxer Manny Pacquiao last month when he made homophobic comments, showing that big companies will not wait before acting any more.
Sharapova is a former world number one, who won her first Grand Slam titles at Wimbledon in 2004 and went on to win four more.
She is one of just 10 women to complete the career Grand Slam, winning Wimbledon, the Australian Open, US Open and French Open.
Forbes magazine has ranked her as the highest-paid female athlete in the world for the past 11 years.
At her press conference, Sharapova said of her drug test failure: “I made a huge mistake, and I’ve let my fans down.
“I’ve let this sport down that I have been playing since the age of four and that I love so deeply.”