Ben Stokes has lost his sponsorship with sportswear brand New Balance.
The England all-rounder was arrested on 26 September on suspicion of causing actual bodily harm following an incident near a Bristol nightclub.
The deal with the company - who also provide the kit for the England team - is worth a reported £200,000 per year to Stokes.
New Balance said it "does not condone behaviour that does not match our brand culture and values".
The England and Wales Cricket Board has said Stokes, 26, will not travel to Australia on 28 October with the rest of the Ashes squad "at this stage".
On Wednesday, the Test vice-captain apologised to TV personality Katie Price and her son Harvey for a video that appeared to show him imitating a TV appearance made by the disabled youngster.