After his horrific and life-changing accident at the French Alps last year, Formula One racer Michael Schumacher, who is now reportedly paralyzed, has been dumped by the wealthy advertisers who used to seek his services to promote their products.

Daily Mail said in its report that the famous racer should expect to lose about £4million a year because of the decision of big companies to let go of him as their endorser.

It was noted that fashion companies Navyboot and Jet Set have already ended their ties with Schumacher who is still recovering from the serious head injuries he suffered from his ski accident.

A spokesperson for fashion film company owner Phillipe Gaydoul confirmed with Daily Mail that Schumacher will indeed lose the indicated amount.

It added that it cannot be avoided that these companies will always associate his condition with his ability to become a role model for their products.

"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," a Bluewin report explained, as cited by the Daily Mail.

Earlier reports said that Rosbacher. a German mineral water company, has also ended its ties with Schumacher this year and that there will be more companies that will be withdrawing support in the coming months. But Daily Mail noted that Mercedes and DVAG will not drop him as their brand ambassador and promised to "stand by the stricken star."

Schumacher's condition

NZHerald said in a similar report that Schumacher is currently facing a "difficult" and "long" rehabilitation and that it is not clear if he can still fully recover from his injuries.

It was noted by the report that he has already acquired a £500 million fortune but is now spending most of his money for his healthcare.

It has been a really tough year for the racer and his family as they had to deal with his accident, his induced coma and now his difficult recovery.

He was initially taken to the Moutiers Hospital after he hit his head on a rock at the ski site but was later on transferred to CHU Genoble for better treatment of his head injuries.

According to NZHerald, Schumacher was first placed in an induced coma after the accident, then doctors had to perform a delicate operation to avoid more pressure in his brain. Doctors observed that the racer was already waking up from his coma in January but progress had been quite hard for him after that.