Verstappen set for HUGE loss at Red Bull with uncertain future ahead
Verstappen set for HUGE loss at Red Bull with uncertain future ahead
Max Verstappen will be without one of his longest-serving personal sponsors next year, Jumbo, after the Dutch and Belgian supermarket chain announced they were cutting ties with the Red Bull driver.
Jumbo, who have sponsored Verstappen for 10 years, will part ways with the two-time world champion at the end of the 2023 season.
It is unclear if the Dutch driver has a back-up sponsor as a replacement for 2024 and unbeyond.
CEO Ton van Veen revealed that he could not justify the cost of sponsoring Verstappen, admitting that the money generated through their sponsorship of the Red Bull driver would not go back into the pockets of their customers.
READ MORE: Verstappen to be 'PERSUADED' to ditch F1 in DRAMATIC shake-up
“Max is of course a folk hero,” he told Dutch outlet Algemeen Dagblad. “But he acts on the absolute world stage. We are a very good food retailer, but only in the Netherlands and a little bit in Belgium.
“We invest more than 20 million euros in sports sponsorship every year, but I can only spend every euro once. We cannot return the money that goes to Max to the customer or invest it in sustainability or health.”
'We want nothing to do with motorsport'
Jumbo had invested heavily in motorsport under former CEO and owner Fritz van Eerd watch and it is now something that van Veen is looking to step away from.
"We want nothing to do with motorsport" he added.
"That sponsorship has brought us a lot of brand awareness, but we have now won everything there is to win.”
READ MORE: Verstappen makes INCREDIBLE statement against Marko
Related
Change your timezone:
Latest News
Why F1's RADICAL proposed points change is a positive step
- 34 minutes ago
Former F1 chief hits out at Hamilton 'EXCUSES'
- 2 hours ago
Red Bull already sending parts to F1 race MONTHS away
- 3 hours ago
Stats show SURPRISE F1 team dominate in crucial category
- Today 11:57
Schumacher reveals what F1 pundits are NOT allowed to say about Red Bull
- Today 10:57
Hamilton struggles pinned on Mercedes by team's OWN driver
- Today 09:57
Related news
Stats show SURPRISE F1 team dominate in crucial category
Schumacher reveals what F1 pundits are NOT allowed to say about Red Bull
Verstappen issues MAYHEM warning to F1 bosses
Horner in BRUTAL Wolff swipe amid Verstappen to Mercedes links
F1 Standings
Drivers
- Oliver Bearman
- Charles Leclerc
- Carlos Sainz
- Lando Norris
- Oscar Piastri
- Pierre Gasly
- Esteban Ocon
- Sergio Pérez
- Max Verstappen
- Alexander Albon
- Logan Sargeant
- Lewis Hamilton
- George Russell
- Nico Hülkenberg
- Kevin Magnussen
- Fernando Alonso
- Lance Stroll
- Valtteri Bottas
- Zhou Guanyu
- Daniel Ricciardo
- Yuki Tsunoda
Races
- Gulf Air Grand Prix of Bahrain 2024
- Saudi Arabian Grand Prix 2024
- Grand Prix of Australia 2024
- MSC Cruises Grand Prix of Japan 2024
- Grand Prix of China 2024
- Miami Grand Prix 2024
- Gran Premio dell'Emilia Romagna 2024
- Grand Prix of Monaco 2024
- Grand Prix du Canada 2024
- Gran Premio de España 2024
- Grand Prix of Austria 2024
- Grand Prix of Great Britain 2024
- Grand Prix of Hungary 2024
- Grand Prix of Belgium 2024
- Heineken Dutch Grand Prix 2024
- Grand Prix of Italy 2024
- Grand Prix of Azerbaijan 2024
- Grand Prix of Singapore 2024
- Grand Prix of the United States 2024
- Gran Premio de la Ciudad de Mexico 2024
- Grande Prêmio de São Paulo 2024
- Heineken Silver Las Vegas Grand Prix 2024
- Qatar Grand Prix 2024
- Grand Prix of Abu Dhabi 2024
About GPFans
GPFans is a multi-platform, multi-language brand dedicated to Formula One coverage. We bring you all the ins and outs of the sport, 24/7, everything from up-to-the-minute news and features to the latest viral stories and clips.We believe that a new generation of exciting, outspoken drivers will make F1 more popular than ever before, and we want to give our users access to as much of their heroes as possible, on and off the track. From Lewis Hamilton to Max Verstappen, Daniel Ricciardo to Sebastian Vettel, we provide in-depth analysis of every every Grand Prix in the season, from Australia to Abu Dhabi.
With Formula One under the new ownership of Liberty Media, how the sport is being covered is evolving, and GPFans will look to be at the heart of this progression into new media, as one of the fastest-growing sites covering the king of motorsports.
Follow us on your favorite social media channel
Corporate & Media
Innovatieweg 20C7007 CD, Doetinchem, Netherlands
+31645516860