Swiss watch brand TAG Heuer won't renew contract with Sharapova

In view of the current situation, the Swiss brand has suspended negotiations and decided not to renew the contract

ZURICH: Swiss watch brand TAG Heuer is dropping its sponsorship of Maria Sharapova, it said on Tuesday after the Russian tennis star said she had failed a drug test.



"Maria Sharapova was under contract with TAG Heuer until December 31, 2015. We had been in talks to extend our collaboration. In view of the current situation, the Swiss watch brand has suspended negotiations and has decided not to renew the contract," the unit of French luxury goods group LVMH said in a statement.

Further, Luxury carmaker Porsche, a division of Volkswagen, said on Tuesday it would suspend tennis player Maria Sharapova as its brand ambassador in light of her admission that she failed a doping test.

"We regret the current news about Maria Sharapova. Until further details emerge and we are able to analyse the situation, we have decided to suspend planned activities," Porsche said in a statement.

Sharapova, the highest-paid woman in sports, said she failed a drug test due to a substance she has been taking for 10 years for health issues.



The 28-year-old Sharapova, a five-time grand slam champion, will be provisionally suspended starting March 12, the International Tennis Federation (ITF) said.