The tension is reportedly rising between Haas owner Gene Haas and team principal Guenther Steiner. According to a recent report put out by Business F1, Steiner is unhappy with Gene not acknowledging him as a part-owner of the team. The Italian-American believes that he deserves a stake in Haas for helping Gene co-found the team. Now that the 58-year-old believes he is not getting what he deserves, the report states that he could move the court to settle the whopping $900,000,000 issue.
As for Steiner, his passion for Haas has always been clear, having served as the team principal for seven years. Speaking of the same, he told planetf1.com in an interview earlier this year, “I think it has to be my passion project. I started this team. I went out and found an investor. If I leave…I never wanted another job. I would have had other jobs before. I didn’t want them“.
After stating the same, he added in the interview that he has a good relationship with Gene. While Steiner acknowledged that he and the 70-year-old do have arguments at times, he believes that they are always able to come to a resolution. However, it seems that on this occasion, the issue at hand is so serious that the two may settle the dispute in court.
What is the dispute between Guenther Steiner and Gene Haas?
According to Business F1, the steady rise in the value of the Haas F1 team is resulting in an issue between Guenther Steiner and Gene Haas. This is because Steiner has claimed that he is a “part owner” of the team and deserves his share in the equity of the team.
However, Gene does not seem to agree with the report. With Steiner believing that he is a part owner, he believes he is entitled to half the equity of the team, which is now worth a whopping $900,000,000. The report adds that this issue was never a problem in the past because back then, the team was still struggling with finances.
However, with the team in a better position now, the report states that this issue could be settled in court. While it remains unclear whether this shocking report is accurate or not, it is fair to say that Steiner, too, has acknowledged that Haas is now in a much better position financially than it was a few years ago.
“It’s not for £1 ($1.28)“: Steiner on interest to buy Haas
While speaking in an interview with Mirror Sport about investors’ growing interest in purchasing the Haas F1 team, Guenther Steiner said that his side’s valuation has grown substantially recently. “Every week, we get offers for someone to buy the team…but it’s not for £1 ($1.28)! It’s hundreds of millions now. It’s now a good investment and a good thing to have“, explained Steiner.
The Italian-American then added how F1 has grown significantly recently and has been a boon for all the teams competing in the sport. This is why Steiner is confident that Gene Haas will continue to invest in the team, as there is still more value to be earned.
Considering Steiner’s optimism, it is fair to say that Haas is in a much better position now and that teams, even on the lower end of the championship, can generate more than enough to survive.
