DHAKA: Nike has suspended its relationship with Maria Sharapova after the five-time Grand Slam tennis champion admitted failing a drug test.

Also, Swiss watchmaker Tag Heuer cut its ties with the tennis star, reports the BBC.

Nike said it was ‘saddened and surprised’ at her admission that she tested positive for a banned substance at the Australian Open in January.

Sharapova said she had been taking meldonium since 2006, on the advice of her family doctor.

Her relationship with Nike dates back to when she was 11 years old.

‘We have decided to suspend our relationship with Maria while the investigation continues,’ Nike said.

‘We will continue to monitor the situation.’

In 2010, the 28-year-old Russian tennis player signed a new eight-year contract with the US sportswear giant worth $70m as well as a cut on sales of her own branded clothes.

Tag Heuer was in talks to extend its deal with Sharapova, which ran out at the end of last year.

However, Tag Heuer said those talks have now been suspended and the company has decided not to renew the contract.

Sharapova is the world's highest paid female athlete after earning nearly $30m in 2015 from winnings and endorsements, according to Forbes.

These include contracts with Evian, Tag Heuer, Porsche and Avon.

In 2014, Porsche named her as its first female ambassador and she signed a three year deal with the car company.

That contract is due to end at the end of this year.

A Porsche spokesman said it was likely any personal appearances would be postponed for the time being, but that no decision had yet been taken on their long-term relationship.

BDST: 1747 HRS, MAR 08, 2016
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