Verstappen’s sponsor reveals why world champion SPLIT
Verstappen’s sponsor reveals why world champion SPLIT
Jumbo CEO Ton van Veen has explained the supermarket chain’s decision to end its long-term sponsorship of F1 world champion Max Verstappen.
Despite its history of backing Verstappen, Jumbo has parted ways with the three-time world champion and has also ended its sponsorship of the F1 Dutch Grand Prix at Zandvoort, as well as speed skating and cycling. This change in approach follows the departure of former Jumbo CEO Fritz van Eerd, now led by Van Veen, while a money laundering investigation is ongoing.
The decision reflects a reassessment of resource allocation in the new era of Jumbo management, as Van Veen explained in an interview with Dutch publication De Volkskrant. “Jumbo has lost its focus in recent years,” he says.
“We’ve added some activities that don’t necessarily improve the formula. We are also active in the field of sports sponsorship.
“But when you look at the performance of the players and the team, you have to ask yourself: Is this right for us? Max Verstappen is world champion. But we are a Dutch supermarket company and we are not the biggest. We don’t do much business on the world stage.
“This means we will no longer invest tens of millions of dollars in sports sponsorships and use them to drive down prices. That’s what Jumbo is all about, he thinks.
