Former Wimbledon champion Maria Sharapova has extended her sponsorship agreement with Nike in an eight-year deal worth $70 million, according to press reports.
Bloomberg reports that a new between the two comes into effect this month and includes a line of dresses designed by the player.
Nike has endorsed the 22-year-old Russian for 11 years. Since winning Wimbledon in 2004 at the age of 17, Sharapova has risen to become the world's best-paid female athlete.
“Sharapova is one of those stars whose name transcends sports, similar to David Beckham,” said Stefan Szymanski, an economics professor at the CassBusinessSchool in London. “She's become an international celebrity first, and an athlete second.”
Venus Williams extended her agreement with Reebok in 2000 in a five-year deal worth around $45 million, said at the time to be the most lucrative deal ever for a female athlete.
