“$21 Million to wear a cap with DVAG’s logo” – When Michael Schumacher signed a $21 Million sponsorship deal with a German financial advisor company

Michael Schumacher wore DVAG’s cap throughout his tenure in F1 and signed a new seven years deal with the company for $21 Million.

Michael Schumacher is one of the greatest F1 drivers of all time. He is one of the highest-paid athletes of all time with over $1 Billion in earnings in his prestigious F1 career.

The seven-time world champion earned over $50 million from endorsements alone during his absence from the F1 world. Moreover, he has been a part of Forbes’ list of highest-paid athletes since the 1990s.

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Michael Schumacher’s $21 Million cap sponsorship

During the press conferences or while walking in the garage, Michael Schumacher wore caps of the Deutsche Vermögensberatung (DVAG).

They provide financial services to more than eight million clients around the globe with 15,000 financial advisors in their company.

Schumacher and financial advisors have a long history. The German driver had the DVAG logo on his helmet before a switch to his cap in 1996.

Moreover, the seven-time World Champion signed a new seven years sponsorship deal with the financial institution. The deal is worth $21 million which comes down to $3 Million a year.

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Next Generation Mick Schumacher continuing the tradition

The Schumacher family and the financial institution based in Frankfurt, Germany have a great 26 years long relationship with each other.

The tradition continues as the next generation of the Schumacher family wears the cap on the grid now. Haas driver Mick Schumacher keeps the relationship intact.

Mick Schumacher is proud to partner with DVAG and believes that they will always be his first partner when it comes to sponsorships.

He added: “I am touched to know that the name Schumacher has been close friends with DVAG for a quarter of a century. I am proud that it is now me whom DVAG supports in Formula 1.”