The US sportswear giant announced it will suspend its relationship with the tennis star while her use of the substance meldonium is examined by the International Tennis Federation (ITF).
Sharapova”s other sponsors could follow suit in pulling the plug on lucrative endorsements, and the cosmetics company Avon has refused to comment on its partnership with the five-time Grand Slam champion.
The 28-year-old also enjoys deals with the likes of American Express, Porsche and Evian.
Although she is believed to be the world”s highest-paid athlete, with estimated earnings of £20.7m in 2015, her shock announcement in Los Angeles could have huge ramifications for her image.
Maria Sharapova of Russia wipes her face during her women
Sharapova”s deal with Nike helped her earn more than £20m last year
Sharapova had been taking meldonium, often used to treat magnesium deficiency and diabetes, for a decade – and the substance was only banned by the World Anti-Doping Agency on 1 January.
She told a packed news conference that she had failed to read an email attachment notifying her that the drug was now off-limits to athletes – plunging her career into jeopardy, as well as the chance to compete in the Rio Olympics.
Meldonium was banned because it can enhance oxygen uptake in the body and endurance.
“Several health issues” Sharapova was suffering from in 2006 had prompted her to begin taking the drug – including magnesium deficiency, regular bouts of influenza, early indications of diabetes, and “irregular” heart test results.
Sharapova said: “I made a huge mistake. I let my fans down and I let the sport down. I take full responsibility for it.
“I know that with this I face consequences and I don”t want to end my career this way.”
Her lawyer, John Haggerty, said Sharapova was “completely stunned” when she received the letter notifying her of the failed drug test.
Mr Haggerty told the AP news agency: “She is very organised and takes her career very seriously. When she first started to take this back in 2006, she made sure it was approved, that it wasn”t on the banned list, and checked in future years.
“Because she had taken it for so many years, and it was OK year after year, it just got off the radar.”
Although the former world number one has expressed hope that she will be given another chance to play professionally, she will be provisionally suspended from the sport on 12 March.
The ITF”s anti-doping programme suggests athletes who fail a drug test should receive a four-year suspension from the sport – but players who are not significantly at fault, or those who have never offended before, can receive a more lenient sentence.
Former UK anti-doping chief Michele Verroken told Sky News that Sharapova faces “the possibility of a minimum of a one-year ban”.
News24uk
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