It's been 17 months since F1 racer Michael Schumacher's skiing accident at the French Alps and his recovery has been slow, but according to a new report from Express, the racer's manager Sabine Kehm stated in a recent video conference that the racing legend is finally "making progress." 

However, Kehm immediately re-emphasized that fans should always keep in mind the racer's critical condition and the seriousness of his injuries. She also reminds fans that full recovery is still a very long way away. 

"We are happy to say still he does improvement and I say this always considering the severeness of the injury he had," Kehm stated. "But of course it will take a very long time for everybody involved to fight, and we are happy to take this fight." 

According to a report from TVNZ, the interview and update was released to coincide with the launch of a new watch that Schumacher was instrumental in designing. The watch was presented near the family home near Lake Geneva where Schumacher is currently resting and recovering. 

Michael Schumacher is famous for being the only racer to win the Formula One world record seven times and has also won 91 races in his career. He was injured while skiing in the French Alps in December 2013 when his head slammed against a rock, resulting to severe head injuries. 

Schumacher was in a medically induced coma until he regained consciousness in June 2014. He was then moved to a Swiss hospital. By September of last year, the family had moved him to their private home in Gland on Lake Geneva and issued a near-total media black-out. 

According to the report from Express, Schumacher's fortunes have amassed to roughly £520 million but so far, his recovery has already cost the family well over £10 million. The report explains that his recovery costs roughly £100,000 per week and that his recovery may continue for several more years.