Sharapova Reportedly Signs Huge Contract Extension With Nike

Sharapova Will Design Dresses For New Line As Part Of Extension With Nike

Tennis player Maria Sharapova has "extended her sponsorship agreement with Nike" for eight years and $70M, according to a source cited by Danielle Rossingh of BLOOMBERG NEWS. The deal "takes effect this month and includes a line of dresses designed" by Sharapova. The source indicated that Sharapova will "get a percentage of sales" from the line. Nike "has worked with" Sharapova for 11 years. Sharapova earns an estimated $22M annually from prize money and endorsements, including deals with Tiffany & Co., Sony Ericsson Mobile Communications and Canon. IMG Tennis VP Max Eisenbud, who reps Sharapova, noted in September that Sharapova has nine sponsors, but that she "may drop some endorsements in favor of agreements that give her a percentage of sales." Rossingh noted Sharapova "already had an equity agreement in place with Cole Haan, a wholly owned Nike subsidiary and U.S. clothing, shoe, handbag and accessory designer" (BLOOMBERG NEWS, 1/11).

LOCKED UP: CNBC's Darren Rovell cited sources as saying that Fila has signed tennis player Kim Clijsters to a "multi-year shoe and apparel deal." Clijsters will debut Fila's Spring 2010 Heritage Apparel Collection at the Australian Open later this month. Her other endorsements include Babolat, Telnet and sports beverage AA (CNBC.com, 1/11).