Coverage: Maria Sharapova’s ban has her sponsors running

It was just Monday that Maria Sharapova admitted to failing her drug test at the Australian Open for her use of the drug meldonium, but her biggest sponsors are reacting fast but suspending ties with the now banned tennis star.

The loss in sponsorship income could cost Sharapova, who is the highest-paid female athlete, according to Forbes.

Sydney Ember of The New York Times had the day’s news:

Maria Sharapova’s announcement on Monday that she had failed a drug test at the Australian Open was shocking. But perhaps more surprising was how quickly some of her sponsors turned their backs on her.

Just hours after Ms. Sharapova, the world’s highest-paid female athlete, admitted she had tested positive for the recently banned drug meldonium, Nike said it was suspending its relationship with her.

“We are saddened and surprised by the news about Maria Sharapova,” the company said, adding that it would “continue to monitor the situation.”

Other sponsors quickly followed. Porsche echoed Nike’s statement, saying it had decided to “postpone planned activities.” The Swiss watchmaker TAG Heuer said it had “suspended negotiations” to extend Ms. Sharapova’s contract, which had expired in December.

Not all of Ms. Sharapova’s sponsors have suspended their relationships with her. Evian, for one, said only that it would “follow closely the development of the investigation,” according to a statement reported by Reuters.

The statements from Nike, TAG Heuer and Porsche were certainly not definitive — suspending ties is not the same as severing them. But in this fast-paced social media age, will people realize the difference?

The swift decisions, even acknowledging their nuance, are still puzzling. After all, isn’t Nike the same company that stood by Lance Armstrong for years as he battled doping accusations? More than that, the company publicly defended Mr. Armstrong in 2012 after the United States Anti-Doping Agency released a report that supported the claims.

Emma Thomasson and Ben Klayman of Reuters described how Sharapova’s team is optimistic she will be able to retain some of her sponsors:

A person close to Sharapova told Reuters her team was encouraged that none of the sponsors so far have said they were terminating contracts with the player, although they had the right to do so.

“Suspension means to put on hold,” the source said, requesting anonymity because of the sensitive nature of the situation. “Under the circumstances we’re very pleased that everybody is willing to stand by and see what facts come out instead of terminating.”

Danone SA, the maker of Evian water, a longtime Sharapova sponsor, said on Tuesday it would monitor developments. Avon Products Inc, another sponsor, declined to comment on its endorsements.

Brian Socolow, an expert in sports law and a partner at Loeb & Loeb LLP, said Nike’s quick suspension was no surprise after its long support for now-disgraced U.S. cyclist Lance Armstrong.

But he said Sharapova may yet win back sponsors. “She has the chance, like other athletes, to redeem herself and regain her leadership position as an endorser,” said Socolow. “She will have to demonstrate that it was an honest mistake and there are no other improper reasons she took the drug.”

There was some scepticism about the sponsors’ motives from tennis fans on social media.

Ben Stanley (@BDStanley) tweeted on Tuesday, “Nike is in the business of making money, not offering moral guidance. If it paid to keep Sharapova on, they’d do it.”

The Associated Press explained what got Sharapova into this situation in the first place:

Sharapova said she failed a doping test at the Australian Open in January for the little-known drug meldonium, which became a banned substance under the World Anti-Doping Agency code this year. The former world No. 1 took full responsibility for her mistake and could face a lengthy ban from the International Tennis Federation, possibly ending her season and preventing her from competing for Russia at the Olympics in Rio de Janeiro.

“I know that with this, I face consequences,” Sharapova said. “I don’t want to end my career this way, and I really hope I will be given another chance to play this game.”

The 28-year-old Sharapova said she has been taking meldonium, a blood flow-promoting drug, for 10 years for numerous health issues. Meldonium was banned because it aids oxygen uptake and endurance, and several athletes across international sports have already been caught using it.

Sharapova and all players were notified of the changes in the WADA banned substances list in December. Sharapova claimed she simply missed the change, neglecting to click on the link.

“I take great responsibility and professionalism in my job, and I made a huge mistake,” Sharapova said. “I let my fans down. I let the sport down that I’ve been playing since the age of 4, that I love so deeply.”