Wednesday, 16 March 2016

Jesi Max

Maria Sharapova Cut Ties With Nike, Suspends by UN

Maria Sharapova’s admission that she’d tested positive for the recently-banned performance enhancing substance meldonium may put a dent into her estimated $195 million net worth. Deals with corporate sponsors in the West including Porsche, Tag Heuer and Nike were scrapped, while tennis pros such as Rafael Nadal and Andy Murray called for her to be punished further. On Tuesday the U.N. suspended her role as goodwill ambassador.

Worth an estimated $195 million, Sharapova will be unable to continue her work as a goodwill ambassador with the U.N. Development Program until the conclusion of the investigation into her admission that she tested positive for the banned substance meldonium at the Australian Open in January.

"The United Nations Development Programme (UNDP) remains grateful to Maria Sharapova for her support of our work, especially around the Chernobyl nuclear disaster recovery," said a UNDP spokesperson.

"However, in light of Ms. Sharapova's recent announcement, we last week suspended her role as a Goodwill Ambassador and any planned activities while the investigation continues. We wish Ms. Sharapova the best."

The UN Development Programme, which works to eradicate poverty and inequality, has discontinued its nine-year relationship with Sharapova pending the outcome of the case. Much of her work with the UNDP had focused on efforts to help survivors of the 1986 Chernobyl disaster.

On the other hand, Nike’s ousting of Maria Sharapova from its celeb athlete roster after discovering that the Russian tennis star tested positive for a banned performance-enhancing substance. This comes just weeks after the Oregon-based sportswear giant revoked the contract of champion boxer, Manny Paquiao, after he made disparaging comments about gay couples.

Nike can very easily up and fire any of its star endorsers in light of negative press. This is because such endorsement contracts come with explicit morals clauses, the violation of which allows Nike to give the celeb the boot.

Companies take on quite a significant amount of risk when contracting with professional athletes and/or celebrities to endorse their products, as the famous individuals and their behavior – whether in terms of sporting or in their often paparazzi-plagued personal lives – serves as a reflection of the brand. In order to protect themselves and their carefully crafted identities, brands include explicit morals clauses in their spokespersons’ contracts.

So, what will happen next to Sharapova? Guess she will be OK with money enough for 5 generations of Sharapova.

Jesi Max

About Jesi Max -

A writer and entrepreneur who works on the marketing and strategy side of fashion. In particular, her writing and professional work focuses on the art of narrative marketing and branding as it applies to fashion and luxury. She also is the author of, a new blog that looks at fashion from an intellectual perspective.

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