Porsche suspends ties with Sharapova

(FILES) This file photo taken on April 27, 2014 shows Russia’s Maria Sharapova holding her trophy while posing with the winner’s price, a Porsche 911 Targa sportscar, after winning the final of the WTA Porsche Tennis Grand Prix in Stuttgart, southwestern Germany.
German car manufacturers Porsche became on March 8, 2016 the third big-name sponsor to distance themselves from Maria Sharapova after the tennis star admitted failing a doping test at the Australian Open. / AFP / THOMAS KIENZLE

German luxury car manufacturers 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.

“We regret the news about Maria Sharapova. Until more details are known and we can analyze the situation, we have decided to suspend planned activities (with her),” said Porsche in a statement.

READ: TAG Heuer says will not renew Sharapova contract

The 28-year-old Sharapova, who has won five Grand Slam titles in her career, signed a three-year deal to be brand ambassador for Porsche in April 2013.

The Russian also won the WTA indoor tournament in Stuttgart, which is sponsored by the car manufacturers, in 2012, 2013 and 2014, with the champion driving off in a brand-new sports car.

READ: Nike suspending ties with Sharapova—official

Porsche joins Swiss watchmaker TAG Heuer and US sportswear giant Nike, who said they were halting their relationship with Sharapova.

Sharapova announced 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 this year.