The latest news surrounding the multiple F1 champion is grim as Michael Schumacher's condition has reportedly forced sponsors to pull the plug on his multi-million endorsement deals.

"The seven-time champion is expected to lose out on more than £4million a year as a result of the decisions by companies who no longer see him as a role model for their products," said MailOnline.

Most notably, Navyboot and Jet Set have severed their ties with the F1 champ owing to Michael Schumacher's condition, particularly the slim chance that he will ever recover from the coma he suffered while skiing.

In a statement posted on Bluewin website, the spokesperson for Phillipe Gaydoul, who owns Navyboot and Jet Set, said:

"It is not easy for Schumacher's sponsors: paying out millions of Swiss francs per year and receiving nothing back since the crash. But must they separate in this situation from the Formula 1 legend? It is a balancing act: On the one hand, the sponsors must pursue economic objectives, which point towards for a parting. On the other hand it will not be well received in public if you are turning your back on Schumacher at this difficult time."

According to Euro Sport in its Michael Schumacher news update, the large number of staff caring for Schumi has resulted to the seven-time champ racking up bills to as much as £100,000 each week.

"A large part of the team that cares for Michael now was trained by our specialists. We are following his treatment and are still a point of contact and entirely at his disposal," a spokesperson said.

Doctors have not issued a statement recently on how Michael Schumacher is doing after the accident, but it's generally accepted rule that there's no time frame when it comes to recovery for head injuries.

Fortunately for the F1 champ, Mercedes and wealth management firm DVAG vowed not to leave despite Michael Schumacher's condition.