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Sponsors dump Michael Schumacher as doubts remain over F1 legend's recovery

Big sponsors of Schumacher have reportedly dropped F1 legend.

Staff Reporter
13 December 2014, 12:03pm
Michael Schumacher
Michael Schumacher
Michael Schumacher's recovery from his ski accident remains in doubt as big sponsors have reportedly taken the step to sever ties with the Formula One legend.

The 45-year-old, who is still recovering as a coma victim, has now lost out on several million pounds as a result of companies moving away from him, according to Swiss news website Bluewin.

Fashion companies Navyboot and Jet Set have, it has been reported, severed commercial ties with Schumacher.

It comes after German mineral water company Rosbacher halted their contract with him too earlier in the year, according to the Daily Express.

Owner of the two fashion firms, Phillipe Gaydouls, has reportedly openly moved away from Schumacher.

According to the Daily Mirror, Gaydouls's spokeswoman has confirmed his decision.

As reported by Bluewin: "It is not easy for Schumacher's sponsors: paying out millions of Swiss francs per year and receiving nothing back since the crash.

"But must they separate in this situation from the Formula 1 legend?

"It is a balancing act: On the one hand, the sponsors must pursue economic objectives, which point towards for a parting.

"On the other hand it will not be well received in public if you are turning your back on Schumacher at this difficult time."

Finance magazine Bilanz estimated that Gaydouls was paying Schumacher £4 million-a-year - a significant income for the retired F1 legend.

Schumacher is being cared for by a team of specialists following his ski accident on December 29 last year which left him paralysed, speechless and confined to beds and wheelchairs.

The German is living at his home which contains a state-of-the-art medical suite, having moved from a rehab clinic in Lausanne where doctors had been looking after him.

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