Ton van Veen – chief executive of Dutch supermarket chain Jumbo – has explained the decision to pull his company’s sponsorship of Red Bull driver Max Verstappen, claiming that the business had ‘lost focus’ and will be pivoting 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.
However, Jumbo’s name will no longer appear alongside Verstappen’s in the F1 sphere with the company’s new leadership structure making changes to the allocation of financial resources following the departure of former chief executive Frits van Eerd.
Speaking to Dutch news organisation De Volkskrant, Van Veen explained: “In recent years, Jumbo has lost its focus somewhat. We have added a number of activities that have not necessarily strengthened the formula.
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“We have also become very active in sports sponsorship. But when you look at the successes of athletes and teams, you have to ask yourself if that suits us. Max Verstappen is a world champion.
“But we are a Dutch supermarket company, not even the biggest. On the world stage, we don’t have much business. That means we no longer put tens of millions into sports sponsorship but use it to lower prices. That is the essence of Jumbo as it was meant to be.”
Alongside their departure from F1, the Dutch supermarket chain will also be leaving the world of cycling. They were title sponsors of the Tour de France winning Jumbo-Visma team in 2023 as Jonas Vingegaard claimed back-to-back titles, but that squad has been rebranded as Team Visma-Lease a Bike for the 2024 campaign.
Despite the departure of Jumbo, Verstappen still has a wealth of personal sponsors by his side. Most notable are the Scandinavian broadcasting corporation Viaplay, international game developer EA Sports and the Heineken beer company. The latter uses the Dutchman to promote their alcohol-free offering in line with modern advertising regulations.
If he does need to top up his sponsorship earnings then Verstappen will likely not be short of admirers. The Dutchman was never far from our screens in 2023, winning 19 of a possible 22 Grands Prix en route to his third successive Drivers’ Championship crown.
