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Nike has suspended the eight-year, $70-million contract it renewed in 2010 with tennis star Maria Sharapova after she announced yesterday that she had failed a doping test taken during the Australia Open in January, where she advanced to the quarterfinals. Porsche this morning said that is will “postpone planned activities” with the 28-year-old, Russian-born athlete. And Swiss watchmaker Tag Heuer said it would not renew a deal with Sharapova that expired at the end of 2015.
The banned substance in her system, meldonium, is a drug manufactured in Latvia that is not legally available in the United States. Sharapova said her family doctor had prescribed it for her a decade ago for several health issues. She admitted she had received an email on Dec. 22 announcing the ban but said she had not clicked through on the link....
This story illustrates the perils of personalities, personal endorsements, sponsorships and brand integrity.