Michael Schumacher Recovery News & Update: F1 Legend's Condition 'Not Good' Says Former Boss

Michael Schumacher's ex-boss at Ferrari, Luca di Montezemolo broke the news that the F1 driver's condition is "not good."

"I have news and unfortunately it is not good," said Montezemolo to reporters, The Guardian noted. "Michael was a great driver, and we experienced a long time together in both our personal and professional lives. But life is really strange. He was the most successful driver of Ferrari and in his career he had only one accident, in 1999. But unfortunately a fall in a ski accident has broken him."

The former boss did not elaborate as to what he meant. When Schumacher's spokesperson Sabine Kehm was contacted by BBC, he did not comment.

According to a report by Express, it has taken 20 million pounds to care for Schumacher since his ill-fated accident two years ago. His care costs are estimated to be over £150,000-a-week as there are 15 health care experts who care for him around the clock.

Schumacher's devoted wife Corinna along with their children Mick and Gina Maria remain steadfast as they hope that their beloved patriarch will come to. According to the outlet, they have consulted with top neurological experts in Europe and the USA but the prognosis for the legendary F1 racer is still dependent on how time will heal him.

Schumacher's exact condition is unknown as his family is fiercely protective of him and their privacy. A German magazine is being sued as it reported that an unnamed confidante "told" the outlet that Schumacher is well enough to be walking around. They added that the F1 racer is very thin and that he can raise his arm.

However, the manager, Kehm issued a statement denying the speculations.

"Unfortunately, we are forced by a recent press report to clarify that the assertion that Michael could move again is not true," Kehm said, as reported by Daily Mail. "Such speculation is irresponsible, because given the seriousness of his injuries, his privacy is very important for Michael. Unfortunately they also give false hopes to many involved people."

Michael Schumacher was on holiday with his family when he hit his head while skiing in the French Alps on Dec. 29, 2013. While he was wearing a helmet when the accident happened, he sustained brain hemorrhage, according to the Mirror. He was airlifted and had an emergency operation and was placed in a medically induced coma to heal. On September 2014, he was transferred at a special medical room at his mansion in Lake Geneva where he is cared for by his team around the clock.