Deutsche Vermögensberatung Extends Deal With Ex-F1 Driver Michael Schumacher

Retired seven-time F1 world champion Michael Schumacher and German financial advisors Deutsche Vermögensberatung (DVAG) "have extended their sponsorship deal for another seven years until 2020," according to BILD. DVAG, which "has been a sponsor of Schumacher since '96," will reportedly pay €21M ($28M), or €3M ($4M) per year, for the extension. DVAG Founder & Chair Prof. Dr. Reinhard Pohl said, "With Michael Schumacher, we have a partner on our side who is connected to our company like nobody else. Out of this beneficial cooperation has developed a special personal relationship, which is based on mutual trust, reliability and stability" (BILD, 8/29).