Sponsors slash lucrative deal with Schumacher amid fears over long-term recovery

Formula One legend Michael Schumacher has reportedly lost a lucrative endorsement deal with companies as they no longer see him as a viable role model for their products.

Fashion entrepreneur Phillipe Gaydouls has reportedly said that it was not easy for his sponsors as they were paying millions of swiss francs per year and received nothing back since the crash, the Daily Star reported.

However, Gaydouls has also reportedly said though sponsors must pursue economic objectives, they should also be worried of public reaction as they won't receive it well if they turn their back on Schumacher especially at this difficult phase.

The seven-time world champion driver's world was thrown into turmoil after a skiing accident in Meribel, France, last December. He suffered devastating head injuries after hitting rocks at high speeds on the slopes.

The champion was put in a medically-induced coma after being airlifted from the side of the mountain.