This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/business-35751916

The article has changed 9 times. There is an RSS feed of changes available.

Version 1 Version 2
Maria Sharapova: Nike suspends contract with Russian over drugs test Maria Sharapova: Nike suspends contract with Russian over drugs test
(35 minutes later)
Nike has suspended its relationship with Maria Sharapova after the five-time Grand Slam tennis champion admitted failing a drug test.Nike has suspended its relationship with Maria Sharapova after the five-time Grand Slam tennis champion admitted failing a drug test.
The company said it was "saddened and surprised" at her admission that she tested positive for a banned substance at the Australian Open in January. Also, Swiss watchmaker Tag Heuer announced that it will not be renewing its contract with the tennis star.
"We have decided to suspend our relationship with Maria while the investigation continues," it said. Nike said it was "saddened and surprised" at her admission that she tested positive for a banned substance at the Australian Open in January.
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," the company said.
"We will continue to monitor the situation.""We will continue to monitor the situation."
Ms Sharapova's relationship with Nike stretches back to when she was 11 years old. Tag Heuer was in talks to extend its deal with Ms 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.
In 2010, the 28-year-old Russian tennis player signed a new eight-year contract with the US sportswear giant worth $70m (£49m) as well as a cut on sales of her own branded clothes.In 2010, the 28-year-old Russian tennis player signed a new eight-year contract with the US sportswear giant worth $70m (£49m) as well as a cut on sales of her own branded clothes.
Sponsors 'burned'Sponsors 'burned'
Ms 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.Ms 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.
In 2014, Porsche named her as its first female ambassador.In 2014, Porsche named her as its first female ambassador.
Ms Sharapova, who lives in Florida, is also the face of Avon perfume Luck.Ms Sharapova, who lives in Florida, is also the face of Avon perfume Luck.
Paul Swangaurd, from the Warsaw Sports Marketing Center at the University of Oregon, said Nike's decision reflected a "new era" for the way sponsors deal with these issues.Paul Swangaurd, from the Warsaw Sports Marketing Center at the University of Oregon, said Nike's decision reflected a "new era" for the way sponsors deal with these issues.
Nike is taking a "very proactive approach", which resulted from "them being burned by a lot of athletes over the years, and growing impatient with putting so much investment behind athletes that potentially comes back to bite them in the court of public opinion".Nike is taking a "very proactive approach", which resulted from "them being burned by a lot of athletes over the years, and growing impatient with putting so much investment behind athletes that potentially comes back to bite them in the court of public opinion".
Last month, Nike dropped Manny Pacquiao after the boxer said homosexual people were "worse than animals".Last month, Nike dropped Manny Pacquiao after the boxer said homosexual people were "worse than animals".
The company also severed ties with cyclist and drugs cheat Lance Armstrong as well as athlete Oscar Pistorius, who killed his girlfriend.The company also severed ties with cyclist and drugs cheat Lance Armstrong as well as athlete Oscar Pistorius, who killed his girlfriend.
Failed testFailed test
Ms Sharapova tested positive for meldonium, a substance she said she had been taking since 2006 for health issues.Ms Sharapova tested positive for meldonium, a substance she said she had been taking since 2006 for health issues.
The International Tennis Federation (ITF) said she would be provisionally suspended from 12 March.The International Tennis Federation (ITF) said she would be provisionally suspended from 12 March.
Ms Sharapova said: "I did fail the test and take full responsibility for it."Ms Sharapova said: "I did fail the test and take full responsibility for it."
She said she had taken meldonium after being given it by her family doctor and had known the drug by the name mildronate.She said she had taken meldonium after being given it by her family doctor and had known the drug by the name mildronate.
"A few days ago, after I received a letter from the ITF, I found out it also has another name of meldonium, which I did not know," she said."A few days ago, after I received a letter from the ITF, I found out it also has another name of meldonium, which I did not know," she said.
What is meldonium?What is meldonium?
It is meant for angina patients but athletes like it because it helps their endurance and ability to recover from big efforts.It is meant for angina patients but athletes like it because it helps their endurance and ability to recover from big efforts.
It is on the banned list now because Wada started seeing it in lots of samples and found it does have performance-enhancing properties.It is on the banned list now because Wada started seeing it in lots of samples and found it does have performance-enhancing properties.
It was on Wada's 'watchlist' for over a year and added to the banned list on 1 January.It was on Wada's 'watchlist' for over a year and added to the banned list on 1 January.
Made in Latvia, it is widely available - without prescription and at low cost - in many east European countries, but it is not licensed in most western countries, including the United States.Made in Latvia, it is widely available - without prescription and at low cost - in many east European countries, but it is not licensed in most western countries, including the United States.
It is thought that hundreds of athletes have been using it and there are a lot more cases in the pipeline.It is thought that hundreds of athletes have been using it and there are a lot more cases in the pipeline.