P1racenews AI automatic summary:
One of Max Verstappen’s long-time sponsors has explained the decision to split from the reigning F1 world champion.
Dutch supermarket chain Jumbo will end its sponsorship of Formula 1 driver Max Verstappen and its involvement in sports sponsorship altogether after their existing contract. This decision comes after Jumbo’s CEO, Frits van Eerd, stepped down in 2022 following a money laundering investigation. The company’s new CEO, Tom van Veen, cited a loss of focus and a desire to lower prices as the reasons behind their departure from sports sponsorship. However, Verstappen still maintains personal sponsorship deals with Viaplay, EA Sports, and Heineken. The 26-year-old driver is aiming to defend his world title in the upcoming 2024 season after winning his third championship crown last year.
