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Sponsors Navyboot, Jet Set Reportedly Severing Ties With Michael Schumacher

Former F1 driver Michael Schumacher has been "dumped by wealthy sponsors since the ski accident which left him 'paralysed' and close to death," according to Hall & Awford of the London DAILY MAIL. The seven-time champion is "expected to lose out" on more than £4M ($6.3M) a year as a result of the decisions by companies who "no longer see him as a role model for their products." Fashion firms Navyboot and Jet Set have reportedly "severed all commercial ties with the recovering coma victim as doubts remain over the chances of a full recovery." Schumacher suffered "severe head injuries while skiing with his family in the French Alps in December last year." A spokesperson for Phillipe Gaydoul, who owns the fashion firms, confirmed the decision to "end the lucrative contract," which paid Schumacher £4M a year. Swiss news website Bluewin said, "It is not easy for Schumacher's sponsors: paying out millions of Swiss francs per year and receiving nothing back since the crash." Earlier this year German mineral water company Rosbacher "reportedly annulled its contract with him." It is "not yet clear which other companies have severed their links with Schumacher." Mercedes and wealth management firm DVAG have "promised to stand by the stricken star" (DAILY MAIL, 12/13).

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