Sharapova, who is the world's highest earning female athlete, making as much as $20m in 2015 alone, might lose her other lucrative contracts with Tag Heuer, American Express, Porsche, Evian and Avon.
In a statement, Nike said:
“We are saddened and surprised by the news about Maria Sharapova. “We have decided to suspend our relationship with Maria while the investigation continues. We will continue to monitor the situation.”Sharapova, a five-time Grand Slam champion now faces a ban of up to four years which would end her career as a professional athlete.