Maria Sharapova signs $70 mn deal with Nike

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Sharapova signs $70 mn deal with Nike
Sydney, Jan 13: Ahead of the Australian Open, the world's largest athletic-shoemaker Nike has sealed a 70 million dollar deal with Russian tennis champ Maria Sharapova.

Nike, which has worked with the Russian for over 11 years now, has extended the contract by eight years, reports The Sydney Morning Herald.

A source with information on deal revealed that the deal, which takes effect in Jan 2010, includes a line of dresses designed by the 22-year-old Wimbledon champion.

Sharapova will also get a percentage of sales, the source added.

According to a report in Sports Illustrated, the former top ranked players earns an estimated 22 million dollars a year through prize money and endorsement.

The endorsement deals include those with big brands such as Tiffany & Co, Sony Ericsson and Canon.

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