May 31 (GMM) Michael Schumacher’s wife has had to sell off millions in private assets in order to continue to care for the stricken Formula 1 legend.

La Repubblica reports that it is obvious that Corinna Schumacher has recently been revenue-raising – including by selling millions of dollars worth of expensive watches belonging to the seven time world champion.

The Italian newspaper also claims Mrs Schumacher has “sold luxury residences and a jet”.

That’s reportedly because 55-year-old Schumacher’s ongoing health and care treatments since his skiing fall and brain injuries over a decade ago are now costing the family 7 million euros a year.

The expenses reportedly include “highly armoured homes to protect privacy”, as well as “extremely expensive treatments, doctors and nurses”.

“Corinna sold her residence on Lake Geneva,” La Repubblica continued. “The last disposal, following the sale of the private jet, was a valuable collection of watches and a castle in Norway.

“In short, the assets are being liquidated to protect Schumacher and leave a small door open to hope.”