Max Eisenbud, the agent of professional tennis player Maria Sharapova on Sunday denied a report by the Sun newspaper alleging US-based sports company Nike has ended its partnership with his client.

"For the record, Maria has a lifetime deal with Nike. Her fans will get to see some of her best dresses in 2019 and more La Cortez," said Eisenbud to Tennis Life.

The Sun reported on Saturday that Nike is ready to put an end to their 20-year-long cooperation with Sharapova.

According to the British media outlet, Sharapova told her friends that Nike will not renew their deal when the contract expires by the end of 2018.

Twenty years ago, when Sharapova was just 11, she signed a partnership deal with Nike. As Sharapova won five Grand-Slam singles titles in her career to become one of the most popular players in the tennis world, Nike sweetened the deal, which currently pays her about 13 million US dollars a year.

The sponsorship contract is considered the biggest for any female athlete and once made Sharapova the best-paid woman in the sports sector.

Back in 2016 when Sharapova tested positive for banned drug meldonium, Nike suspended their cooperation but resumed it after an anti-doping tribunal found that she did not use the drug intentionally.

Though the Russian player returned to the court in April 2017, the 15-month-ban took away her magic. Sharapova did not achieve any remarkable success in the past two seasons and is only 29th on the WTA Rankings.

The Sun said that Sharapova is interested in joining Germany-based sports company Adidas. However, considering that Adidas just reached a deal with the new US Open winner Naomi Osaka and will pay her 8.5 million US dollars a year, the highest for a female athlete by the company, it's hard to say how much they will be willing to extend an offer to Sharapova.