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Sponsors 'turn their back' on Michael Schumacher by slashing lucrative deals with F1 star

In the grounds a house has been constructed for his father to move into.Although the sponsorship money is a fortune to most, the loss of it will not dent his financial security.

Swiss news website Bluewin claimed Schumacher is poorer to the tune of several million pounds annually as a result of the commercial decisions taken by some companies who no longer see him as a role model for their products.

While Mercedes and the wealth management and advice firm DVAG promised to stand by him, others are not.

Phillipe Gaydouls, owner of the fashion firms Navyboot and Jet Set, has publicly severed his commercial ties with the 45-year-old recovering coma victim.

"It is not easy for Schumacher's sponsors: paying out millions of Swiss francs per year and receiving nothing back since the crash," said the Bluewin report, referring to the ski accident on December 29 last year which has left Schumachder paralysed, speechless and confined to beds and wheelchairs.

"But must they separate in this situation from the Formula 1 legend? 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."

Gaydoul's spokeswoman confirmed his decision. Finance magazine Bilanz estimated he was paying Schumacher some four million pounds per year.

Earlier this year the German mineral water company Rosbacher reportedly annulled its contract with him.

It is not clear what other companies have severed their links with Schumacher who is being cared for by a team of specialists at his 35 million pound mansion at Gland on the shores of Lake Geneva.

He was transferred there at the end of the summer from a rehab clinic in Lausanne where doctors decided it would be better for him to be with his family.

He is being cared for in a state-of-the-art medical suite built inside the mansion. In the grounds a house has been constructed for his father to move into.

Although the sponsorship money is a fortune to most, the loss of it will not dent his financial security. He amassed a fortune of some 500 million pounds during his years at the top.

Express
12/12
25 Points
1

German magazine under fire for 'deceptive' front cover of F1 legend Michael Schumacher

The sole objective is to increase circulation."It is not the first time that the magazine has been accused of attempting to deceive readers with Schumacher-related stories.When Schumacher was in a coma, a photograph of Schumacher was splashed on the front with the headline: 'Woke Up.

The photo shows the seven-time Formula 1 champion wearing Aviator-style sunglasses and a black winter jacket.

Die Aktuelle, a women's lifestyle magazine, then writes: "Moments that touch our hearts."

The magazine has been accused of tricking readers into believing this is the first photograph of Schumacher since he sustained brain injuries in a freak skiing accident last December.

It claims that stricken Schumacher, 45, is "pushed on to the terrace by [his wife] Corinna on mild autumn days" in his wheelchair.

The photograph was actually taken in St Moritz, Switzerland, on January 26, 2013.

The German news magazine Focus branded the cover "deceptive".

Online publication Motorsport.com said: "How low can you go: it seems that there is no limit for certain publications.

"The majority of readers will not notice the date of the photograph which is written in small typeface."

The German news website news.de said: "Die Aktuelle proves once again that for the publication there¹s no bad taste that's too bad. The sole objective is to increase circulation."

It is not the first time that the magazine has been accused of attempting to deceive readers with Schumacher-related stories.

When Schumacher was in a coma, a photograph of Schumacher was splashed on the front with the headline: 'Woke Up!'

The article was in fact about the experiences of three other people who had awoken from a coma.

The German motoring racing legend cannot speak and has memory problems while being paralysed and in a wheelchair, according to friend and former racing driver Philippe Streiff.

Schumacher, 45, was transferred from a hospital in Grenoble, France, to Lausanne Hospital, Switzerland, in June and he is now being cared for at his home on the shores of Lake Geneva.

It was December 29 when he suffered a freak ski accident in the French Alps which left him brain damaged and fighting for his life.

Schumacher, a very competent skier, was holidaying with family and friends in Meribel, where he owns a chalet.

He was skiing with his 14-year-old son on a red piste, which is classed for intermediate skiers. But he lost control and hit a partially-covered rock. He was then catapulted 34 feet on to another rock.

He smashed his head on the bolder. The force of the collision shattered his helmet.

His wife Corinna has been a constant presence at his bedside.

With an accumulated wealth estimated to be well over £500m, Schumacher's family is well placed to provide his care.

Express
27/11
2 Points
1

Michael Schumacher faces a 'difficult and long' recovery, says manager

Sabine Kehm said yesterday he was making "appropriate" progress following a skiing accident almost a year ago which left him with horrific brain injuries.

However, she went on to stress that it is "not possible" to put a time-frame on his recovery.

"Michael is making progress appropriate to the severity of his situation, but it will be a difficult and long process," Ms Kehm told German broadcaster RTL.

She went on to say how the family of Schumacher - including wife Corrina, son Mick and daughter Gina - are grateful for his fans continued support and positive messages.

"I can only say again that the family is very happy and touched by the sympathetic messages," said Ms Kehm.

"I believe that positive energy does them good. We appreciate the condolences from around the world."

Schumacher, 45, was skiing in the French Alps last December when he fell and suffered traumatic brain injuries after hitting his head on a rock.

The seven-time world champion was placed in a medically-induced coma to reduce swelling on his brain in Grenoble, France, before being transferred to a rehabilitation clinic in Lausanne, Switzerland.

He is now recovering at his family home near Geneva, Switzerland, surrounded by his family and an on-site medical team.

Latest updates suggest that Schumacher is paralysed and in a wheelchair, according to his friend and former racing driver Philippe Streiff.

Streiff, who is himself wheelchair-bound since a crash in Brazil during pre-season tests in 1989 left him a quadriplegic, spoke on a French radio station and revealed that Schumacher cannot speak and now has memory problems.

The Frenchman, who is a good friend of Schumacher's, said: "He is getting better but everything is relative. It's very difficult.

"He can’t speak. Like me, he is in a wheelchair paralysed. He has memory problems and speech problems.”

Last month, a doctor who had treated Schumacher for nearly six months after his skiing accident said he had made "some progress" in his recovery.

Jean-Francois Payen, a doctor at the French hospital in Grenoble where the former motor-racing world champion was treated, has been continuing to track Schumacher's progress since he returned to his home in Switzerland last month.

But the medic warned that his recovery would take time, and estimated that the typical recuperation period was one to three years.

Speaking during an interview on French radio station RTL, he said: "I have noted some progress but I would say we should give him time."

Express
24/11
4 Points
1 2

Sports Sebastian Vettel: German joins Ferrari as Fernando Alonso exits

"My love for Ferrari was a prime consideration." Alonso said he had begun to think about leaving Ferrari as long ago as 2013. Two-time world champion Alonso, 33, is expected to join McLaren. Four-time world champion Sebastian Vettel has signed a three-year deal with Ferrari following Fernando Alonso's exit from the Italian team. "It was a difficult decision to take, but a carefully considered one from start to finish," said Alonso.

Four-time world champion Sebastian Vettel has signed a three-year deal with Ferrari following Fernando Alonso's exit from the Italian team.

The German's switch from Red Bull for next season was announced minutes after Alonso's departure was confirmed.

"When I was a kid Michael Schumacher in the red car was my greatest idol. It's an incredible honour to get the chance to drive a Ferrari," said Vettel, 27.

Two-time world champion Alonso, 33, is expected to join McLaren.

The Spaniard still had two more years to run on his contract with Ferrari but he and the Italian team have agreed to part company.

"It was a difficult decision to take, but a carefully considered one from start to finish," said Alonso. "My love for Ferrari was a prime consideration."

Alonso said he had begun to think about leaving Ferrari as long ago as 2013.

"It was not a special moment of the year that I opened my eyes," he said. "Last year I had some doubts about 2014.

"I knew that it was a big change of regulations so I thought best thing to check how the 2014 new turbo era was going for Ferrari.

"I had a very close relationship with president [Luca] di Montezemolo. We talked every week and we more or less agreed that if this year we were not competitive again we could think of different options.

"In the summer break it was time to sit with the president and say, 'OK, I would like to go'."

McLaren will not announce their two drivers until at least 1 December as they decide whether to retain Jenson Button or Kevin Magnussen alongside Alonso.

The current season has one more race to run, with Britain's Lewis Hamilton battling Mercedes team-mate Nico Rosberg of Germany for the title at this weekend's Abu Dhabi Grand Prix.

Vettel will partner former world champion Kimi Raikkonen at Ferrari.

"Scuderia Ferrari has decided to put its faith in the youngest multiple champion in the history of Formula 1," said team boss Marco Mattiacci.

Ferrari last won the world drivers' title in 2007, when Raikkonen finished top in his first stint with the Italian team.

"Sebastian Vettel is a unique combination of youthfulness and experience," added Mattiaci.

"He brings with him that sense of team spirit which will prove invaluable when, together with Kimi, they tackle the challenges awaiting us, as we aim to be front runners again as soon as possible."

Alonso, world champion with Renault in 2005 and 2006, joined Ferrari in 2010 and went on to win 11 times for the Scuderia.

"Without a shadow of a doubt, these five years produced some of the best moments of my career and I also feel that, in leaving the team, it is family rather than friends I am leaving behind," said Alonso, who narrowly missed out on the world title to Vettel in both 2010 and 2012.

"In the Scuderia Ferrari roll of honour of great drivers, Fernando Alonso will always occupy a special place," said Mattiacci.

"We offer him our heartfelt thanks for what has been an extraordinary adventure with the Scuderia, when in the past five years, he twice came so close to winning the world championship."

BBC Sport's chief F1 writer Andrew Benson says although Alonso may have failed to win a title at Ferrari, it is hard to judge his stay in Maranello as a failure.

"Alonso's reputation as arguably the most complete F1 driver of all has only been enhanced by his battles against the odds in inferior cars over the last five years," said Benson.

"Despite being considerably more successful in statistical terms, Vettel is not held in as high regard within the sport.

"But if he can turn Ferrari into winners again - as his childhood hero and friend Michael Schumacher did two decades ago - he could attain legendary status."

BBC
20/11
0 Points
1

Sports Sebastian Vettel replaces Fernando Alonso at Ferrari after signing THREE-YEAR deal

The four-time world champion's move from Red Bull was announced just a matter of minutes after Alonso's departure from Ferrari was confirmed.

Alonso has now been tipped to join McLaren, while Vettel will join forces with the 2007 world champion Kimi Raikkonen next season.

Vettel described the move to Ferrari as a 'dream come true'.

He said: "The next stage of my Formula 1 career will be spent with Scuderia Ferrari and for me that means the dream of a lifetime has come true.

"When I was a kid, Michael Schumacher in the red car was my greatest idol and now it’s an incredible honour to finally get the chance to drive a Ferrari

"I already got a small taste of what the Ferrari spirit means, when I took my first win at Monza in 2008, with an engine from the Prancing Horse built in Maranello. 

"The Scuderia has a great tradition in this sport and I am extremely motivated to help the team get back to the top. 

"I will put my heart and soul into making it happen."

Vettel has been off the pace this season, and is fourth in the Championship standings going into the final race in Abu Dhabi on Sunday.

Express
20/11
2 Points
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