Philippe Gaydoul (right) with Michael Schumacher during happier time in 2010
Philippe Gaydoul (right) with Michael Schumacher in 2010Getty

Stricken Michael Schumacher has been dropped from a lucrative sponsorship deal it has been revealed, as the former F1 star coninues his slow recover from a devastating skiing accident.

Schumacher had a sponsorship deal believed to be worth around £4m a year with fashion labels Navyboot and Jet Set, owned by Swiss entrepreneur Philippe Gaydoul.

Unable as he is to do any promotional work, Gaydoul has decided to cut ties with Schumacher, who has been in a coma for six months.

A spokeswoman for Gaydoul confirmed the decision.

The sponsor was understood to be torn between the financial interest of the company and the risk of negative public opinion from dumping Schumacher, according to a Swiss media report.

Other big-name sponsors are standing by Schumacher, however, including Mercedes and German wealth managers DVAG.

Swiss news site Bluewin, which is in German, noted that things are not easy for Schumacher's hamstrung sponsors, who are paying out a small fortune each year for the star's endorsement.

Any departure from the injured star runs the risk of highly negative PR, however.

Scumacher is being cared for by his wife Corrina and a team of high-paid care staff near Lake Geneva.