Max Verstappen Dealt With Annual $1,500,000 Blow After Major Sponsor Decides to Leave Red Bull Star

Max Verstappen is set to suffer from a significant financial blow after a major sponsor decides to pull out of his camp. As per AD.nl, Jumbo, who has been sponsoring Verstappen since 2016, will finally bring their seven-year partnership to a close at the end of the season.

Jumbo is one of the largest supermarket chains in the Netherlands based out of Veghel. It was once a very prominent company, especially in the world of sports. They sponsored numerous local motorsport and cycling teams, but the star in the collection was always Verstappen.

A special helmet to honor my first sponsor in my first steps in autosport. A partner who has supported me to this day. Thank you @JumboSupermarkt for always believing in me! #keeppushing #proudpartner #Jumbo #AustrianGP pic.twitter.com/LdoaWbmLQz

— Max Verstappen (@Max33Verstappen) June 29, 2018

Verstappen became a part of the Jumbo family in 2016- the year he made his Red Bull debut. Since then, they have been paying Verstappen a huge sum of money every year, to keep him. As of 2021, Jumbo paid Verstappen $1,500,000 yearly to keep their branding on his clothing as per The Mirror. Starting in 2024, however, Verstappen will lose out on that money.

Max Verstappen falls out with long-time sponsor Jumbo

Jumbo was once a very well-respected company among motorsport athletes. Unfortunately, they have been involved in various scandals over the last few months. Last year, their CEO Frits van Eerd was arrested on suspicion of money laundering. Tensions between the two parties began increasing, but ahead of the start of the 2023 season, they decided to go ahead with their sponsorship regardless.

New boss Ton van Veen, however, decides to pull the plug now. Van Veen feels that Verstappen doesn’t add enough value to the company, because of his global popularity. Jumbo is popular only in the Netherlands and is somewhat well-known in Belgium.

To thank Jumbo for their support throughout my career I signed special helmets for Frits and all of his family members for Christmas. pic.twitter.com/mZVFzk0ccI

— Max Verstappen (@Max33Verstappen) December 25, 2016

Verstappen, who is a global star, attracts eyeballs from all over the globe. Putting in more than a million dollars in him, when their own target audience is limited to a small region, doesn’t make sense to the new boss.

“The money that goes to Max can’t be returned to the customer,” said Ton van Veen. “Or put towards sustainability or health.”

Will Verstappen struggle after dealing with $1,500,000 blow?

Verstappen is one of the most popular F1 drivers in the world. His rise to stardom in the last few years has also made him one of the most marketable drivers. According to Sports Illustrated, he earned about $6 million from sponsorship money in 2022, the year he won his second world championship.

Still only 25, Verstappen has a lot of time left to increase his commercial appeal, but is already one of the highest earning F1 drivers with salary and sponsorship money combined. His current contract with Red Bull too, sees him earn $50,000,000 a year, and will run until the 2028 season.

Jumbo’s decision to not sponsor Verstappen anymore makes sense from their point of view. However, as far as the Dutchman is concerned, it won’t affect his lifestyle or finances much.