Schumacher signs EUR 21m cap sponsor deal

He is no longer seen in the F1 paddocks, but Michael Schumacher has just secured a lucrative sponsorship deal that will be the envy of most of today’s grand prix stars.

Bild newspaper reports that the seven time world champion, 44, has extended his contract with German investment company Deutsche Vermogensberatung.

Since 1996, the former Ferrari and Mercedes driver, now retired, has worn the long-winded word - or the shorter acronym DVAG - on the front of his cap.

Thursday’s media report said Schumacher’s new seven-year deal is estimated to be worth about EUR 21 million euros, or 3 million per year.