Sponsor dumps Max Verstappen after CEO expresses concerns about “lost focus”
The CEO of Dutch grocery chain Jumbo, Ton van Veen, has given an explanation for the decision to end his company’s sponsorship of Red Bull driver Max Verstappen. He says the company has “lost focus” and will be moving away from sports sponsorship.
Jumbo had been a long-term sponsor of Verstappen prior to their departure and had also sponsored the Dutch Grand Prix, which returned to the calendar in 2021 after an absence spanning back to Niki Lauda’s triumph at Zandvoort in 1985. The Dutchman has since won all three editions of the race at the renovated circuit
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Sponsor dumps Max Verstappen after CEO expresses concerns about “lost focus”
Max Verstappen had an incredible 2023 season while staying on course, but he lost one community partner.
Written by Harry Smith
Monday, January 8, 2024, 09:03 | UPDATED: Monday, January 8, 2024, 09:03
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Jumbo and Max Verstappen’s collaboration has ended before the 2024 season. (Photo courtesy of Getty)
The CEO of Dutch grocery chain Jumbo, Ton van Veen, has given an explanation for the decision to end his company’s sponsorship of Red Bull driver Max Verstappen. He says the company has “lost focus” and will be moving away from sports sponsorship.
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“We’ve also gotten really involved in sponsoring sports. However, you have to ask yourself if that is appropriate for us when you consider the achievements of teams and sportsmen. A world champion is Max Verstappen.
However, we are not even the largest supermarket company—we are a Dutch one. We have little business on the global scene. This implies that instead of investing tens of millions in sports sponsorship, we will instead utilize the money to cut costs. Jumbo is that in its purest form, as intended.
The Dutch grocery business will be quitting both the world of cycling and Formula One. They were the official title sponsors of the Jumbo-Visma team that won the Tour de France in 2023, when Jonas Vingegaard won the race twice in a row. However, for the 2024 season, that team will compete as Team Visma-Lease a Bike.