Porsche has officially severed ties with Russian tennis player Maria Sharapova, after the world's highest paid female athlete failed a drug test for a banned substance named Meldonium at the Australian Open in January.
"We regret the news about Maria Sharapova. Until more details are known and we can analyse the situation, we have decided to suspend planned activities [with her]," Porsche said in a statement, as reported by the ABC.
Porsche was third in line, after Nike and Tag-Heuer, to end sponsorship deals with Sharapova, who could be banned from playing for two years.
However, Sharapova retains the support of Tennis Australia, the organisers of the Australian Open.
"Throughout her career Maria has always impressed with her professionalism as a leader and role model in our sport," TA declared in a statement.
"In her press conference, Maria said she is prepared to face the consequences of what she describes as a 'huge mistake'."
"We are sure that she will emerge with dignity from this trial."
While she is the highest-profile player to be caught with Meldonium in the system, she's not alone among players who took part in the Aussie Open. It is, allowing the benefit of the doubt, a sign that the players concerned may not have been aware Meldonium was a banned substance with effect from the same month the Australian tournament was held.
Meldonium, also known as Mildronate, is used to treat heart conditions. It is not approved by the US FDA (Food and Drug Administration), but is widely prescribed in Eastern Europe – from whence Sharapova hails. Meldonium has been on the World Anti-Doping Agency's banned substances list since January this year.
The news she has been dropped by the three major sponsors is a major financial blow for the Russian player, who earned nearly $40 million last year, according to Forbes magazine. Most of that revenue came from 'endorsements, appearances and royalties'.
Porsche's immediate response to the news is in sharp contrast with Kia Australia, which has continued to support AFL team Essendon in the face of a highly controversial drugs scandal.