Companies severing ties with Sharapova

The financial implications from Maria Sharapova’s failed doping test, have already become apparent, as several companies are cutting ties with the tennis star. Shortly after news of the announcement broke, athletic apparel giant, Nike suspended the 8 year/ $70 million deal that included a clothing line, which was extended in 2010. In a statement released last night, the company had this to say:  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…

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Maria Sharapova admits to using banned substance 

Tennis star Maria Sharapova announced today that she tested positive for the banned substance meldonium, which was initially developed in Latvia for heart patients to aid oxygen flow. Speaking earlier today at a Los Angeles press conference, Sharapova stated she been taking meldonium since 2006 and that she did not realize it was on the World Anti-Doping Agency (WADA) banned substances list. According to WADA, the failed test was on January 26- the day she lost to Serena Williams in the quarterfinals. The charge of the violation was levied on…

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