Maria Sharapova has been named as the world's highest-paid female athlete by Forbes magazine. According to their figures, she earned $24.5 million over the past year, with ‘only’ $1 million earned from prize money and the rest derived from endorsements and appearance fees.

Her biggest deal is with Nike, which re-signed her in January to an eight-year contract worth up to $70, and she also receives royalties from her own tennis line and a line of bags and shoes through Nike subsidiary Cole Haan. In addition, she has contracts with Canon, Motorola, Tiffany, Land Rover and Colgate-Palmolive.

The second and third highest-paid athletes in the world are the Williams sisters, Serena and Venus, occupy the No. 2 and No. 3 slots respectively. According to the survey, Serena's earnings account for $20.2 million while Venus earned $15.4 million over the past year.

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