Disgraced tennis star Maria Sharapova loses another sponsor
Swiss watch brand TAG Heuer is dropping its sponsorship of Maria Sharapova, it said on Tuesday after the Russian tennis star said she had failed a drug test.
"Maria Sharapova was under contract with TAG Heuer until December 31, 2015. We had been in talks to extend our collaboration," the company said in a statement.
"In view of the current situation, the Swiss watch brand has suspended negotiations and has decided not to renew the contract," the unit of French luxury goods group LVMH said in a statement.
Sharapova, the highest-paid woman in sports, said on Monday that she failed a drug test at the Australian Open due to a substance she has been taking for 10 years for health issues.
The 28-year-old Sharapova, a five-time grand slam champion, will be provisionally suspended starting March 12, the International Tennis Federation (ITF) said.
TAG Heuer follows hot on the heels of one of her biggest sponsors, Nike Inc., who suspended ties with the tennis star while the case is being investigated.