The Dutch supermarket chain Jumbo recently canceled all the contracts they had with any kind of motorsport, including formula one. This came after the allegations of money laundering. Despite this, team Red Bull succeeded in retaining their key Dutch sponsorship by having the two-time world champion Max Verstappen in the team. The money laundering controversy began in September. The CEO of Jumbo, Frits van Eerd was fired from the position as he got arrested by the Netherlands’ police. He was arrested for the charges of being involved in the money-laundering.
The investigation was done by the Netherlands’ public prosecution service, Openbaar Ministerie, which revolved around the automotive trade and motorsport sponsorships with real estate transactions. The supermarket chain had another discussion after the new temporary CEO of Jumbo, Ton van Veen came out to deny all those allegations claiming that they are not involved in any kind of money laundering.
Meanwhile, in the annual reports of Jumbo, Veen said, “Motorsport has been seen in a special light for us.” He explained that this has several consequences for the sponsorships they had with the sports. And thus, they decided to cancel all of them. He even added that “We will take a critical look at our activities involved with motorsports.”
Max Verstappen Is An Exception Case
However, the CEO said a very favorable statement in context to the Red Bull star. The Dutch company’s chief said, “Max Verstappen’s contract is an exception.” In an interview with Algemeen Dagblad, just after the investigation began, Verstappen’s manager Raymond Vermeulen stated that the caution is in order at present. He revealed that the team is waiting for the facts to be unveiled. And then he claimed that their contract will be continued.
In addition, Vermuelen admitted that Max Verstappen and the Jumbo heads had an agreement. Also, he stated clearly that the supermarket is not a part of the investigation. He invited everyone to wait for the fact to finally get released before making any judgments.
Currently, all the teams who were getting the sponsorship of the Dutch Supermarket chain are not proceeding with any kind of contract except Red Bull. Alpha Tauri is one of the team’s sufferings. They have already listed two of their sponsors, Fantom mad ICM.com. Now, let’s see except Red Bull, how many other teas will have to suffer the loss.