RUSSIAN TENNIS star Maria Sharapova has signed a three-year endorsement deal with Korean electronics manufacturer Samsung.
The partnership, effective from April 1, will see Sharapova market an extensive range of Samsung products across Russia and other Commonwealth of Independent States* with the possibility of extending the reach globally next year.
Based on previous sponsorship values for the world’s highest-paid female athlete, Frontloaded values Samsung’s investment at around $2m per year.
Having previously endorsed Motorola and Sony Ericsson products, the Samsung partnership marks the third agreement in the electronics category for the 2004 Wimbledon champion.
Among her other existing endorsement deals, Sharapova is also sponsored by global brands such as Tiffany & Co, TAG Heuer, Evian and Head, alongside her most high-profile agreement with US sportswear giant Nike.
Highly-publicised in January 2010, Nike handed Sharapova the most lucrative contract ever for a female sports star, valued at $70m over eight years, or $8.75m per year.
Sponsorship deals for the Florida-based world number two are negotiated by her agent Max Eisenbud of IMG Worldwide. Likely to have been involved with discussions on the brand side is Sunny Hwang, vice president and global head of sports marketing.
*Commonwealth of Independent States refers to the following nations: Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan, Ukraine and Uzbekistan.
By Luke Harman
Follow Luke on Twitter: @lukeharmanSBG