Michael Schumacher has things bad enough- after a skiing accident last year, was comatose and is now slowly recovering- he may be paralyzed, but at least he's no longer comatose.
But things have just taken an ugly turn for Schumacher, once considered one of the greatest Formula 1 racers of all time. According to the Irish Independent, sponsors have begun withdrawing their support from Schumacher, fearing that he may never recover to the point where he may begin making money for them, and by abandoning him, they're cutting their losses now.
The Independent cites a Swiss news cite that describes the thought processes of Schumacher's sponsors:
"It is not easy for Schumacher's sponsors: paying out millions of Swiss francs per year and receiving nothing back since the crash."
"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."
As well, a piece in Metro adds that many of these sponsors no longer see Schumacher as a "role model" (that seems a little harsh) and have confirmed that Phillippe Gaydouls is one of the major sponsors removing himself from Schumacher (Gaydouls owns two prominent fashion firms, Navyboot and Jet Set).
This is, however, having a massive impact on Schumacher himself. The Mirror reports that he's already lost millions of dollars as a result of losing these sponsorships. Although they also note that Schumacher is worth more than half a billion dollars himself, so the loss of a few million won't destroy him.
Hopefully with that money Schumacher can focus less on sponsorship nonsense and more on his recovery.
Check back soon for the latest news on Michael Schumacher.
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