Forever hailed as a generational talent, Max Verstappen’s recent success at the top of F1 — winning four consecutive world championships — has made him a lucrative ambassador for various sponsors. A plethora of companies would now be eager to have him on board today. However, back in the early racing days, before all the success, a Dutch business had refused to sponsor Verstappen.
Michel Perridon’s electronics company, Trust, was an active sponsor in F1 for Dutch drivers like Christijan Albers, Robert Doornbos, and Max’s father, Jos Verstappen, in the early 2000s. Perridon, naturally, knew Max as Jos’ son, having a close relationship with the Verstappen family.
However, when it came to sponsoring the young Verstappen’s career, Perridon was done with racing. He recently recounted an incident where Raymond Vermeulen, who had managed Jos and has also been Max’s manager since 2015, asked him to invest in the young Dutchman’s career.
In hindsight, it was quite a big ask.
Vermuelen had asked Perridon for $5 million in return for a 10% cut of the future Red Bull driver’s earnings for the rest of his life. It was big risk, big reward but Perridon rejected the approach, having felt he had put in enough money in racing sponsorships.
“I’m not doing it. I’ve invested enough in your family…’ A small mistake… you’re wrong sometimes, right?,” the Dutch businessman said on the Dutch Dragons podcast, where the other panelists added that he had made a “big mistake”.
This was something Perridon admitted to five years ago during an interview with Ziggo Sport. “It is my biggest mistake ever,” he said before shedding light on the whole saga.
“He came with a cap with the name Trust on it as an example and asked if I would please sponsor him. He had made that cap with his mother,” Perridon said. “I said: ‘Max, I am done with this whole racing thing. I think it is great that you invited me, but I am not doing it.”
Saying no to Verstappen cost Perridon and Trust a fortune. Just 10% of what Verstappen earned would have brought in tens of millions of dollars every year — and all he needed to invest was $5 million.
Incredibly proud and honoured to be joining forces with the iconic Dutch brand @Heineken for a long term partnership
More coming pic.twitter.com/NelO0ExvGs
— Max Verstappen (@Max33Verstappen) February 20, 2023
Currently, the reigning world champion has a reported salary of $75 million per year, including $15 million in bonuses. On top of that, the 27-year-old’s endorsement deals with top brands like EA Sports, Heineken, Viaplay, and Red Bull provide him with a steady income and incredible marketing visibility, attracting even more brands.
