Former Max Verstappen Sponsor CEO Sentenced to Jail

Former Max Verstappen Sponsor CEO Sentenced to Jail

Fritz van Eerd, the former CEO of Jumbo Supermarkets, a long-time sponsor of Max Verstappen, has been sentenced to two years in prison by a Dutch court. He was convicted of money laundering, forgery, and accepting bribes.

Why it matters

The conviction marks a significant legal outcome for a prominent business figure whose company had a decade-long association with one of F1's biggest stars. It also sheds light on the reasons behind Jumbo's withdrawal from high-profile sports sponsorships.

The details

• The Charges: Van Eerd was found guilty of money laundering, forging documents, and bribery. The Public Prosecution Service alleged he created false invoices, disguised as sponsorship for a motocross team, with money diverted to a rider (Theo E). In exchange, Van Eerd received cash, cars, and motocross bikes.
• Evidence: Police found €448,000 in cash hidden in his home and office during an investigation linked to Theo E.
• The Sentence: Van Eerd received a two-year prison term, harsher than what the prosecution sought, with no suspension.
• Jumbo's Stance: Jumbo Supermarkets stated it was not a party to the case, viewing it as a private matter for Van Eerd, and assured no impact on daily operations.

The bigger picture

Jumbo Supermarkets sponsored Max Verstappen from 2014 until Van Eerd stepped down in September 2022 following money laundering suspicions. The supermarket chain, under new CEO Ton van Veen, subsequently reduced its sports sponsorship budget significantly, including ending its deal with Verstappen, to focus on competitive pricing. Van Veen stated, "We no longer put tens of millions into sports sponsorship, but use it to lower prices. That is the essence of Jumbo as it was meant to be." The court emphasized that Van Eerd abused his position, defrauding his own company and undermining the legal economy.