According to recent reports, Haas is in talks with a big American corporation for a Multi-million dollar title sponsorship deal.
Haas remains the only American team in the F1 Paddock. The team is owned by Gene Haas, who also owns a NASCAR team Stewart-Haas Racing.
Haas entered the F1 grid in 2016 becoming the first American constructor to enter the sport. The team have usually been among the backmarkers. The team was valued at $115 Million and has struggled to compete with big teams.
Haas ran into Financial issues ahead of the 2020 season. Thus, in 2121 they announced the Russian Fertilizer chemical giant Uralkali. The company was owned by Dimitry Mazepin, the father of their driver Nikita Mazepin.
But following Russia’s invasion of Ukraine, Haas suspended its title sponsorship with Uralkali. Nikita Mazepin was also axed and replaced by Kevin Magnussen. But this move left Haas’s Financial books with a question mark.
Haas was offered a deal by Title sponsorship deal by Alfa Romeo. Alfa is planning to leave Sauber, which is linked with Audi. This would have allowed Haas to continue as a Ferrari-powered team but the team rejected it.
Joe Saward reports that huge title sponsorship is to come for Haas from a major American company with a multi-year deal. That may be the reason why Haas is no longer interested in Mick and his support from 1&1 #F1 #Haas #Schumacher https://t.co/yFRWuR9FcJ
— Racing Union 🏁 (@TheRacingUnion) September 14, 2022
But the fortunes of the American Team are looking to improve. According to F1 journalist Joe Saward, Haas is in talks with a big American Organisation for a Multi-Million dollar Title sponsorship deal.
The team are in talks with the unnamed organisation and will be collaborating with them from the 2023 season onwards. The deal is expected to be signed for 3 seasons.
F1 has seen a boom in North America and USA specifically. And USA will be hosting 3 F1 Grand Prix in the 2023 season at Miami, Austin and the inaugural Las Vegas GP.
Haas is the only American team. And this could be a lucrative opportunity if an American company wishes to brand itself. But Haas would be cautious considering their edgy past with title sponsors.
Also Read: Haas refuse to give Nikita Mazepin’s 2021 car to Uralkali amid settlement issues between the two
Haas’s difficult past with Title sponsors
Haas will be delighted to be in touch with a reputed Organisation after 6 years in the sport. The American team has had its fair share of sponsors that have been frowned upon by the sport.
In 2019 Haas signed a multi-year title sponsorship deal with a British energy drink company, Rich Energy. The CEO William Storey spoke highly about the deal but the foundation was shaky.
Ahead of the 2019 British GP, Rich Energy Twitter account announced that the sponsorship deal had been terminated. It cited poor performance to be the reason. Haas and Rich Energy went into Legal battle following the decision.
After the 2019 Italian Grand Prix, Haas F1 terminated its deal. This left a hole in their pockets which was only sealed when they signed a deal with Uralkali ahead of the 2021 season.
Joe Saward reports that huge title sponsorship is to come for Haas from a major American company with a multi-year deal. That may be the reason why Haas is no longer interested in Mick and his support from 1&1 #F1 #Haas #Schumacher https://t.co/yFRWuR9FcJ
— Racing Union 🏁 (@TheRacingUnion) September 14, 2022
Haas signed a partnership with Russian Fertilizer giant Uralkali in 2021. They signed Nikita Mazepin, whose father owns the company and 2020 F2 champion Mick Schumacher. Haas even changed their lively from Black to the colours of the Russian flag following the move.
But following Russia’s Military invasion of Ukraine, Haas terminated the deal. The owned Dimitry Mazepin is a close aid of Russian President Vladimir Putin. They removed Nikita Mazepin as a driver.
Launching the new era of Formula 1 cars 🙌
Proudly presenting the #VF22 #HaasF1 #FWD2022 pic.twitter.com/JvK9YoJjbb
— Haas F1 Team (@HaasF1Team) February 4, 2022
Mazepin and Uralkali have lodged a Legal case to claim a $13 Million reimbursement following their ‘wrongful’ terminations. But this again left Haas with a dent in their finances.
With American money backing their team, Haas could excel in their performance in 2022 which has surprised many. This could also mean they will let go of Mick Schumacher, whose sponsor ‘1&1’ has been a saving grace for the team.
