Jumbo cutting back motorsport sponsorships following money laundering investigation

Dutch supermarket chain to retain deal with F1 star Max Verstappen.

Jumbo cutting back motorsport sponsorships following money laundering investigation

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  • CEO Frits van Eerd arrested in September for money laundering
  • Jumbo's main sponsorship focus was motocross

Dutch supermarket chain Jumbo is ending the majority of its motorsport sponsorships following an investigation into money laundering.

The company's chief executive Frits van Eerd was arrested in September after questions were raised around his real estate transactions and automotive trades, as well as some of Jumbo's sponsorship deals in motocross.

As a result, the supermarket chain is conducting an internal review of how it handled motorsport sponsorship in the past and present, although the investigation found no wrongdoing on Jumbo's behalf.

A company spokesperson told Dutch newspaper Algemeen Dagblad (AD) that there are currently no plans to end Jumbo's partnership with Formula One star Max Verstappen.

“Motorsport has come to be seen in a special light for us,” said Ton van Veen, van Eerd's temporary successor, during the presentation of the annual figures.

“That also has consequences for our sponsorship in motorsport. We won't be doing that for long. We will similarly take a critical look at our activities in motorsport. An exception to that is the contract with Max Verstappen.”

With the focus on its sponsorships in motocross specifically, Jumbo has taken the decision to sever ties with a series that it has supported so faithfully.

While motocross teams are unlikely to collapse as a result of the loss in revenue, there will certainly be a knockon effect to overall budgets.

Motocross Planet told the Eindhoven News: “The sponsors are scarce, especially in these economically difficult times.”

What's more, Riley Yamaha Racing, Hutten Metaal Racing and the Jumbo Husqvarna BT Racing team are singled out as the most at risk from loss in sponsorship, estimated to be a few hundred thousand euros.