Former F1 World Champion Michael Schumacher's manager Sabine Kehm has revealed that the German driver is 'making progress' as he continues on the long road to recovery following injuries sustained during a skiing accident in 2013.

The former Ferrari driver suffered severe injuries in the accident that had rendered him in a medical-induced coma for over six months. He has since made progress, but is still immobile and unable to speak.

Kehm insists that despite the severity of his injuries the seven-time World Champion is getting better, which will come as a boost to his family and the entire racing community.

"We are pleased to continue to say that he is making progress, and I say that always, given the severity of his head injuries," Kehm said, as quoted by the Mirror.

It is believed that the family has almost given up hope of Schumacher recovering fully and hence his wife Corinna has taken over the day-to-day running of the German's businesses.

She reportedly recently sold her husband's £25m jet and a holiday home, as she believes that it will not be necessary in Schumacher's present condition.

It is believed that Corinna has completely transformed herself from being a housewife to a businesswoman taking care of her husband's vast empire.

"When it became clear that the old Schumi perhaps never would return, Corinna had to accept her new life. She had to act."

"She took over the job, and the power, of her husband as an act of succession. Corinna underwent a remarkable transformation - from his wife to the clan chief, a lady who trained as a sales clerk to the manager of a multi-millions company," it added.