As F1 was going through its summer break, it was reported that there was tension building up between Gunther Steiner and Gene Haas. It was speculated that Steiner could move to court and sue his boss for a whopping $900,000,000. However, as per F1 expert Joe Saward, Steiner laughed these speculations off and claimed these were just baseless rumors.
The rumors regarding this issue kicked off when a BusinessF1 report suggested that Steiner wasn’t happy with Gene Haas for not making him part owner of the team. The fact that Haas has seen its valuation grow over the last few years has only added to the issue.
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Steiner apparently believes that he is entitled to half the equity of the team, which is worth over $900,000,000 now. As per the report, this was never an issue back when the team was struggling financially, and now Steiner has cleared it up that it isn’t an issue even now.
Guenther Steiner reacts to the rumors about him suing Gene Haas
As per the latest edition of Joe Saward’s Green Notebook blog, Steiner laughed when he heard about the rumors. The Haas team principal explained, “I told Gene that I was supposed to be suing him for $900 million, and he said: ‘Good luck with that!’. Where do these stories come from? Who makes them up?”
Saward also mentioned another set of rumors that have been floating around the paddock regarding Haas selling off his team to Andretti. The gossip hasn’t died down even after Gene Haas has specifically pointed out that he has no intentions of selling his team.
📰: Conflict brews at Haas as Steiner claims $900 million ownership stake, dispute over F1 team ownership. Steiner asserts 50% stake agreement, founder Gene Haas denies. Valuation at stake, potential court battle looms. #F1 pic.twitter.com/VTynjxBxCB
— F1 Naija 🇳🇬 (@f1_naija) August 13, 2023
Saward explained that Haas can afford to have an F1 team, and it definitely promotes his actual business. Therefore, there is no need for him to sell the team at this moment in time. Saward says, “It might be an expensive hobby, but it is Gene’s train set, and he likes playing with it.”
Gene Haas did not sell his team to Andretti despite multiple offers
Gene Haas has put his money where his mouth is and rejected various offers from Andretti throughout the last few years. Back in 2022, Michael Andretti had revealed that he had made a lot of efforts to try and buy the Haas team, only to be rejected by Gene Haas.
Haas held on to his team strongly even when they went through financial troubles as well as sponsorship issues when they broke off ties with the Russian brand Uralkali. As for Andretti, the American motorsports family is still trying their best to enter the sport as the 11th team on the grid.
