With Mazepin came a new entitlement deal in which the Russian fertilizer company owned by Mazepin’s father was now funding the American cars. Haas cut costs by releasing veteran drivers Romain Grosjean and Kevin Magnussen and signing a pair of rookies in Mick Schumacher and Nikita Mazepin. The team essentially decided to freeze spending ahead of the 2021 season, the last with that version of the F1 car. But the two sides didn’t even make it to the end of the season in a bitter split that forced Haas to reevaluate its spending. Haas signed a multiyear deal ahead of the 2019 season with a London-based energy drink company and dropped the Haas Automation colors for Rich Energy’s black-and-gold look. The need for outside sponsorship is vital, and Haas has had a bad stretch of luck finding good partners.
Steiner said the F1 team has yet to turn a profit with Haas and Haas Automation absorbing the losses. Haas Automation has seen an international boost from its presence in F1, but Haas would like to make money, as well. Haas, which is partially run from the shared North Carolina campus with the Stewart-Haas Racing NASCAR team, launched in 2016 as a way for Gene Haas to put his tool machine company on a global stage. We are thrilled to announce that will become our new title sponsor for the 2023 season and beyond 🤝 #HaasF1 #MoneyGramDrivesYou /miuXJRtB2k Introducing the new MoneyGram Haas F1 Team! 🚨 “That matters a lot to me because we are the only American team, and we are showing how fast the sport has grown that a smaller team like ours can get a big sponsor like MoneyGram. “We had interest, serious interest, from another company, and we chose MoneyGram, and one of the reasons was because the other company was not American. “This was the best sponsor for us,” Haas team principal Guenther Steiner told the AP. It is a three-year entitlement deal, the Associated Press has learned, and gives the Haas team an American-based anchor as the team continues to fend off bigger F1 organizations tapping into the North American market. The team will be called MoneyGram Haas F1 beginning next season, and the two-car livery will change for a look that incorporates the red and white colors favored by both Haas Automation and MoneyGram, a digital money transfer company. MoneyGram was introduced as the new title sponsor for the Haas race team on Thursday ahead of the United States Grand Prix in Austin, Texas. Eight months after Haas F1 hastily pulled Russian sponsorship off its cars following Russia’s invasion of Ukraine, the team has a new title sponsor.Įven better for Haas, the only American-owned team in Formula One now will be backed by a global company headquartered in Dallas, Texas.
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