MUMBAI: Russian tennis player Maria Sharapova, 22, has renewed her deal with Nike for eight more years. The deal is said to be worth $75 million.

In addition Sharapova will take a percentage of revenue from dresses she will design for the company.
 
The deal comes at a time when companies are struggling to battle the economic downturn. Media reports state that Nike has worked with Sharapova for 11 years.
 
Sharapova is said to be earning nearly $22 million a year in prize money and from endorsements.