| Crazy rumor:BMW lines up $1bn payday for Schumacher
Read it and...I don't know what to say
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LONDON - BMW has dangled hundreds of millions of dollars in front of motor racing star Michael Schumacher to drive for its Formula 1 team, which would be one of the industry's biggest marketing deals to date.
F1 Racing magazine has discovered secret talks between BMW, which last year bought the Sauber F1 team and is currently racing as BMW Sauber, and Schumacher's manager Willi Weber about signing him from Ferrari, with which he is contracted until 2007.
The seven-times F1 champion is 37 years old and is expected to retire soon, but could be tempted by what is claimed to be a possible $1bn payday offered by BMW.
He would be paid a $100m retainer, but extra money from merchandising, product endorsement and performance targets could take that to 10 figures.
BMW wants to build a big marketing campaign around the German driver, whose global and local relevance would provide a powerful pull for the brand. Schumacher has already appeared in marketing for brands such as Ferrari and Vodafone.
BMW Sauber F1, with drivers Jacques Villeneuve and Nick Heidfeld, is currently sixth in the 2006 constructors world championship. Schumacher is second in the drivers championship on 79 points, 17 points behind leader and current World Champion Fernando Alonso.
The full story is in the August issue of F1 Racing, due out tomorrow.
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