Michael Schumacher's sponsors are reportedly holding firm despite growing concern over his disappointing comeback form.
Triple world champion Sir Jackie Stewart told Auto Motor und Sport that Schumacher had "damaged his reputation" since returning to Formula One, but it seems that does not extend to his appeal to big companies.
As he began his comeback last year, Schumacher signed Swiss sponsors including Jet Set, Navyboot and Audemars Piguet, and F1 sponsorship expert Zak Brown estimates he commanded "a fee of about $1 million" for the personal endorsements.
"With every race he doesn't finish or score a point, his brand equity is being progressively eroded," sports business strategy professor Simon Chadwick told the Bloomberg news agency.
Watch maker Audemars Piguet, however, is standing firm with Schumacher, explaining that it was "first and foremost the man and his overall career" that prompted the decision to sponsor him.
Shoe brand Navyboot's chief executive, meanwhile, said he is "very sure that he will be back on the winning track" soon, while sportswear label Jet Set declined to comment.
Brown, whose company Just Marketing has negotiated many high profile F1 sponsorships, insists Schumacher is still delivering value of money for his backers. "It's not like he's coming 18th in races," he said.
© ESPN EMEA Ltd.
Feeds: ESPNF1 Staff - Feedback
No comments:
Post a Comment