09 January 2024 , 12:44
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Max Verstappen’s long-term sponsor Jumbo has revealed that a ‘loss of focus’ has led to their split with the reigning Formula 1 champion.
The supermarket chain have sponsored the Dutchman since the early days of his career. They were a backer long before Verstappen’s arrival into F1 back in 2015.
Jumbo have also ended their sponsorship of the Dutch Grand Prix at Zandvoort, as well as their activities in ice skating and cycling. Those calls come after ex-chief executive Frits van Eerd stepped down.
New CEO Ton van Veen has explained that Jumbo’s desire to redistribute their funds has led to the decision to split from Verstappen. Speaking with Dutch outler De Volkskrant, he revealed: “In recent years, Jumbo has lost its focus somewhat.
“We have added a number of activities that have not necessarily strengthened the formula. We have also become very active in sports sponsorship.
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“But when you look at the successes of athletes and teams, you have to ask yourself if that suits us. Max Verstappen is a World Champion. But we are a Dutch supermarket company, not even the biggest. On the world stage, we don’t have much business.
“That means we no longer put tens of millions into sports sponsorship, but use it to lower prices. That is the essence of Jumbo as it was meant to be.”
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During his time alongside Jumbo, Verstappen has established himself as one of the most talented drivers in the history of the sport. The 26-year-old has secured the Drivers’ Championship in each of the last three campaigns.
His most recent season was one of the most dominant seen in F1. He won an unprecedented 19 races - including a record-breaking ten in a row.
The decision for Jumbo to cancel their sponsorship looks unlikely to inconvenience him too much. Verstappen’s contract with Red Bull runs until 2028. He penned fresh terms with the team in March 2022 - a deal that was worth around £200m.
Speaking at the time, he said: "I really enjoy being part of the Oracle Red Bull Racing Team, so choosing to stay to the 2028 season was an easy decision. I love this team and last year was simply incredible, our goal since we came together in 2016 was to win the championship and we have done that, so now it's about keeping the number one on the car long-term."
Red Bull Team Principal Christian Horner added: "To have Max signed with Oracle Red Bull Racing through to the end of 2028 is a real statement of intent. Our immediate focus is on retaining Max's World Championship title, but this deal also shows he is a part of the team's long-term planning.
"With the Red Bull Powertrains division working towards the new engine regulations for 2026 we wanted to make sure we had the best driver on the grid secured for that car."