While most people wouldn’t classify Michael Schumacher’s family as one prone to financial difficulties, they haven’t been in a very easy situation lately. The serious condition of the driver isn’t showing any signs of improving, and the procedures surrounding his treatment have likely been quite costly so far – but recently, it’s been revealed that the family will have to suffer yet another blow to their finances. Various companies that have sponsored Schumacher throughout his career have recently announced that they will be withdrawing their support, citing business reasons.
Several companies have confirmed their stance on the matter so far, including Navyboot – in a statement made by Phillipe Gaydouls, the company’s owner, he announced that the company will be withdrawing their financial support for Schumacher, which is estimated to be in the millions every year. And while it’s understandable, from a business point of view, why a company would do this, some fans of the racer have been critical of the company’s decision. However, it’s also difficult for a business to continue investing into a deal and receive nothing out of it in return.
Not all of Schumacher’s supporters have given up yet – various companies have announced that they will stand by the racer’s side. These include Mercedes and DVAG, a financial company. Others have also expressed a desire to continue supporting the family of Schumacher in their ongoing needs, and it definitely seems like there are lots of businesses out there who are ready to continue their support to the racer, and are dedicated to their cause.
Meanwhile, some experts have been taking the opportunity to discuss the situation and its possible implications for the businesses involved. On one hand, it’s easy to see how a business may decide that they are losing too much money on a deal like this. On the other, the negative publicity that this can bring to a company’s reputation should also not be underestimated, and it’s been stated that some of the businesses withdrawing their support are going to be hit hard by their decision eventually.
At the same time, reports about the ongoing cost of Schumacher’s treatment vary, but the construction of the specialized medical facility for his treatment is stated to have cost nearly $20 million. While it’s expected that the driver has likely accumulated significant wealth during his career, it’s not clear how long his family can afford to support him on that money, and what his prognosis for the future is. Physicians continue to give mixed reports about this, and the situation seems very difficult to make any serious predictions at the moment, even for high-ranking experts.