Filed under: Motorsports, Hirings/Firings/Layoffs, Marketing/Advertising, Earnings/Financials
Retirement pays: Schumacher to earn $26 million in 2007
Michael Schumacher is the highest-paid figure in sports, and next year he'll be the highest-paid figure not in sports. Emerging reports speculate on how much the 7-time (maybe 8-time) world champion will be earning in retirement, and if the staggering figures are right, he'll still be making more than any of the drivers remaining in F1, including his successor Kimi Raikkonen, current defending champ Fernando Alonso and his own brother Ralf.
Schumacher's manager Wili Weber is already lining up the sponsorship deals, declaring his goal to turn the driver into an "advertising emperor" after the end of the season in October. Personal sponsors Shell, Omega and Deutsche Vermogensberatung (DVAG – the logo on his hat), have reportedly already renewed their contracts, and with more time on his hands, the living legend is likely to find more sponsors who'd be keen to latch on to the Schumacher image...for big bucks.
Schumacher's net worth is estimated at around $800 million; enough to personally finance the 29% stake in Ferrari parent company Fiat is repurchasing.
And those guys on the welfare line thought it pays not to work!
[Source: F1i.com]
Reader Comments (Page 1 of 1)
Hamud 12:53PM (9/18/2006)
Just don't put that photo on an advertising, the product would scare the kids... and the elders too, guess even i would be scared by that picture.
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Car chops and Discussion 1:08PM (9/18/2006)
wow, thats quite a good paycheck, lol
and he gets paid for doing something he likes. lucky fella.
http://www.carchops.com
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cowboy bob 1:08PM (9/18/2006)
What can possibly make this man worth 26 million dollars a year? For that matter what could make ANY man worth 26 million dollars a year? Oh yea, tell me about all the money they will make their sponsors. Bull**it. They won't get any of mine.
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dieselman 1:09PM (9/18/2006)
Sorry to ruin it for you, but Shell is NOT one of Schumacher's personal sponsors.
The contract is ONLY with Ferrari F1 team...that means...after Brasil, if Schuey gets out of F1/team, even if he goes to work for the Ferrari "car company"...there will be no connection betwen Shell and him anymore.
Do your homework boy...
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Declan Moran 1:34PM (9/18/2006)
I will make a personal point to NOT buy anything with Scummy's face on it.
I suppose that the deal may include a ton more useless Ferrari tat. Anyone for a red F branded maglite? Shuey socks? MS branded condoms (what a horrible thought, its enough to put one of the practice of procreation.)
FU Shu...
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Luis Longo 1:38PM (9/18/2006)
Michael Schumacher is just a brand name, fully developed,
checkout it Puma contract, that some say its bigger than
the all-time famous Nike-Jordan alliance.
With or Without Sponsors he aint gonna worry abaout money, he has to worry in what to invest now...
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Dean 1:51PM (9/18/2006)
Uhhhhh...
"Michael Schumacher is the highest-paid figure in sports... " I think you should check his figures against Tiger Woods and Phil Mickelson, if your including sponsership that is...
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Bob_Ericson 2:36PM (9/18/2006)
Schumacher deserves every last dime of the money he has made. The odds of dying on the job for a highly competitive driver at that level is staggering. He has done great by Ferrari and is a true professional.
Here's a tip for those who think they are worth the same. Just do what he did. If you dare.
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DPC car videos 2:46PM (9/18/2006)
Schumi is like Elvis of racing, making tons of money even if they are dead.
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Richard 3:34PM (9/18/2006)
So what's the prize from Autoblog for those who can say "Vermogensberatung" 3 times and fast?
Schuey?
Worth every mark: turned around a race team, which turned around a manufacturer, which turned around an empire (Fiat) so they could buy Ferrari back.
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Bullitt Mustang 3:58PM (9/18/2006)
Anyone who says he isn't worth what he gets paid knows nothing about the odds of just making it to Formula 1, nevermind dominating and breaking hundreds of records that were thought to be unbreakable. The man took Ferrari F1 that was in shambles and made it a world championship team again.
The man is a legend. Just because you're jealous doesn't mean he doesn't deserve every penny he gets, and I've got news for you, he'll be getting these big bucks for many many years to come. Stop the hating.
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gambi 4:39PM (9/18/2006)
You really need to change that whole Highest paid athlete thing. Cuase Tiger maid 87 mil. Shaq make $29 a year just from the NBA, not encluding endorsements. Yes he makes a lot of money but he is not at the top of the list
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tuning 4:59PM (9/18/2006)
#11 I'm totaly agree with you.
Michael Schumacher is a legend in life.
When you say Michael Schumacher you say Formula 1, you say Ferrari and you say the best driver for ever. Perosnaly I don't think other driver will do what Schumi did.
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t 9:39PM (9/18/2006)
Well, it depends on how you look at it. Schumi is either the highest paid or the second highest paid sportsman for the past 7 or 8 years. He gets 35M a year from Ferrari for driving the car and plus similar amount from endorsements. He makes some where around 70-90M a year based on the Forbes list. Tiger has overtaken him for the past couple years but Schumi does make way more than Phil or Shaq. This article's 26M is his endorsement after he retires, and which Ferrari won't be pay him 35M a year in salary.
Currently Schumi is the world's richest athlete, but one I am sure Tiger will overtake in the next few years.
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Scooter 4:01PM (9/20/2006)
No driver is worth that much money. He better leave with his loot before the world realizes what chumps he has taken us for.
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olddavid 9:22PM (1/05/2007)
To me, he was the antithesis of "Gentleman Racer".
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