Former F1 sponsor reveals loss of millions over Max Verstappen mistake

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F1 News & Gossip

Former F1 sponsor reveals loss of millions over Verstappen mistake

The brutal mistake was revealed on a recent podcast

Originally written by Chris Deeley. This version is a translation.

Thursday 1 May 2025 17:00

A one-time Formula 1 sponsor has revealed how an error over Max Verstappen's career cost him millions of dollars.

The four-time world champion's 2024 earnings were put at around $80m by Forbes, with most of that money coming from his massive Red Bull contract.

Michel Perridon, who financially supported Verstappen's father Jos through his own racing career, was on the Dutch Dragons podcast recently and revealed that he was also given a chance to invest early in the reigning champion's career.

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Manager Raymond Vermeulen offered Perridon a deal which would see him take 10% of Verstappen's career earnings in exchange for €5million (around $5.7m). For context, 10% of Verstappen's 2024 earnings would come to around €7million or around $8m (not accounting for tax, etc.).

Perridon: I lost millions on Verstappen decision

"At one point, his manager comes to me, [he is] also Max's manager. He said, 'Do you want to invest five million? Then you get 10 per cent of all of Max's income for the rest of his life'."

"But what did Jan Lul [a fictional Dutchman whose name is a byword for idiocy] say? 'I won't do it. I've invested enough in your family...'

"A small mistake...you get it wrong sometimes, too, huh."

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