Sharapova (pictured), who announced she had tested positive for the use of meldonium on March 7, has been under exclusive contract with HEAD for racquets, strings and grips since 2011.
In a statement, Johan Eliasch, chairman and CEO of HEAD, said: “We conclude that although it is beyond doubt that she tested positive for the use of a WADA banned substance, the circumstantial evidence is equally beyond doubt that the continued use of meldonium after January 1, 2016 in the dosages she had been recommended, which were significantly short of performance enhancing levels, was a manifest error by Maria.
“In the absence of any evidence of any intent by Maria of enhancing her performance or trying to gain an unfair advantage through the use of mildronate [another name for meldonium], we further conclude this falls into the category of ‘honest’ mistakes.
“For more than a decade, Maria Sharapova has been a role model and woman of integrity, who has inspired millions of fans around the world to play and watch tennis.
“The honesty and courage she displayed in announcing and acknowledging her mistake was admirable.
“HEAD is proud to stand behind Maria, now and into the future, and we intend to extend her contract.
“We look forward to working with her and to announcing new sponsorships in the weeks and months ahead.
“Maria may have made a mistake, but she has earned the benefit of the doubt and we are extending it to her.
“We look forward to many more years of working with Maria.”
HEAD says it has a clause in all its endorsement agreements entitling the brand to terminate deals with athletes found guilty of doping and believes the use of WADA banned substances with the intent to enhance performance or gain unfair advantages must be sanctioned.
