“Fashion brand ends $4.75 Million contract with Schumacher” – When Michael Schumacher lost a major sponsorship contract after his Skiing accident in 2013

Fashion companies Navyboot and Jet Set cut ties with F1 GOAT Michael Schumacher after his skiing accident in 2013.

Michael Schumacher is one of the greatest drivers in Formula One history. With greatness comes a lot of power, responsibilities, and money.

The seven-time world champion has an estimated worth of over $600 Million dollars till date. However, right after his skiing accident, one of his sponsors cut ties with him.

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Mick Schumacher’s sponsorship termination

Michael Schumacher has had plenty of wealthy sponsors backing him throughout his F1 journey. The name ‘Schumacher’ and having him as the brand ambassador is more than enough.

Some of the notable sponsors include Shell, Ferrari, Mercedes, and Deutsche Vermögensberatung. These companies are still sponsoring the driver who recovers from the accident at his home in Switzerland.

Three companies terminated their contract with the German driver one year after his accident recovery. One of them was a German mineral water company Rosbacher.

Passing the sponsorship torch to Mick Schumacher

Michael Schumacher earned $4.75 Million from two clothing companies called Navyboot, and Jet Set. Both these companies are based in Switzerland and terminated their contract with the German driver in 2014.

A spokeswoman from these fashion firms confirmed the decision. The situation is pretty clear from these brands’ side that they are paying millions and receiving nothing back since the crash.

Few of the Schumacher sponsors are still continuing to pay out the Schumacher family. Deutsche Vermögensberatung is also sponsoring his son Mick Schumacher who finished 6th at the Austrian Grand Prix recently.

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