Porsche follows Nike, TAGHeuer in cutting ties with Maria Sharapova

German car manufacturer Porsche on Tuesday became the third big-name sponsor to distance themselves from Maria Sharapova after the tennis star admitted failing a drug test at the Australian Open.

German car manufacturer Porsche on Tuesday became the third big-name sponsor to distance themselves from Maria Sharapova after the tennis star admitted failing a drug test at the Australian Open.

Porsche became the third big-name sponsor to cut ties with Maria Sharapova, joining Nike and TAGHeuer. (Reuters Photo)

“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),” said Porsche in a statement.

Porsche joins Swiss watchmaker TAG Heuer, who said on Tuesday it would not renew its marketing contract with the Russian, and US sportswear giant Nike, who said they were halting their relationship with Sharapova on Monday.

Read | After Nike, Swiss watchmaker TAGHeuer cuts ties with Maria Sharapova

Sharapova announced on Monday that she had tested positive for Meldonium, a drug she said she had been taking since 2006 but was only added to the banned list at the start of this year.