Maria Sharapova could stand to lose close to €30 million following her failed drugs test admission 6 years ago

Maria Sharapova could stand to lose close to €30 million following her failed drugs test admission

This is a hefty hit to take.

The sporting world was rocked on Monday night following Maria Sharapova's admission of failing a recent drug test.

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In an impromptu press conference, the 2004 Wimbledon champion revealed she tested positive for the newly banned substance meldonium at the Australian Open.

The announcement has rocked the tennis world and the five-time Grand Slam winner could be set to lose millions in endorsements.

Sharapova is currently the world's highest paid female athlete, earning an estimated £21m (€27 million) last year, but is now very much in damage control to protect her fortune.

Maria Sharapova Announces She Failed Doping Test

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According to Forbes estimations, the former world number one could be set to lose around £21m (€27m) in potential endorsement deals and salary.

Sharapova has already been suspended by Nike, who signed a deal worth almost £50m with her back in 2010 and has also been suspended by watchmaker TAG Heuer. Porsche have also reportedly halted promotions with the tennis star.

As reported by the BBC, The International Tennis Federation said Sharapova would be provisionally suspended from March 12 and could face up to a four-year ban.