Sharapova Nets $70m Nike Deal
Women’s tennis star Maria Sharapova has extended her sponsorship agreement with Nike for a further eight years in a deal worth a reported $70m – the largest such contract in the history of the sport.
The deal takes effect this month and includes a line of dresses designed by the former top-ranked tennis player. The 22-year-old Sharapova is also reported get a percentage of sales from the range.
Nike has worked with the Russian for 11 years during which time she has won Wimbledon and the Australian and US Opens.
Sharapova makes close to $22m a year in prize money and sponsorship deals including tie-ups with Tiffany, Sony Ericsson and Canon.
As a consequence she is the world’s best-paid female athlete and was the only woman in Sport Illustrated magazine’s July list of the top 20 highest-earning non-US athletes.
Sharapova’s new deal with Nike marks a significant increase from her existing five-year contract worth in the region of $45m.
Sharapova already has an equity agreement in place with Cole Haan, a wholly-owned Nike subsidiary and US clothing, shoe, handbag and accessory designer.
The extension of the Nike deal comes less than a year after Sharapova returned from a right-shoulder injury that sidelined her for nine months and forced her to undergo surgery.
