Haas F1 is the youngest team on the Formula 1 grid. The team made a very impressive debut in 2016; however, the team’s fairy tale run hit its first bump last season. Haas struggled to handle their VF-19 machine, and the issue continues to persist this season.
From P5 in the constructor standing from 2018 to P9 this season, Haas’ struggles have grown. After a difficult 2019, Haas F1’s financial difficulties worsened. The team also had issues with their title sponsor Rich Energy drink.
The team had to look for new efficient solutions. Ahead of the 2020 season, Guenther Steiner proposed an idea to the big teams, to discount engine costs based on the calendar length of the current season.
Kevin Magnussen recently revealed that he was worried that Haas wouldn’t survive this season.
The coronavirus pandemic had many races canceled. According to Magnussen, this was worrisome for the team’s financial future.
“When the season got delayed already and those races got cancelled that meant reduced income for all teams,” he explained.
He further said, “For Haas, as a small privately-owned team, that was going to hit hard. I expected some issues and I was wondering if the team would survive it.
“The team was Guenther and Gene [Haas] have been working really hard to keep the team alive.”
Neither Kevin Magnussen nor Romain Grosjean had their contracts renewed with Haas for the next season. According to reports, the pair was let go because of financial reasons. Kevin Magnussen also stated that it was not a shock to him.
He said, “It wasn’t really such big news for me, It was very expected. I knew what the situation was like in the team.”
It is widely being reported that Haas will display a lineup of two young drivers; the duo of Mick Schumacher and Nikita Mazepin might replace Magnussen and Grosjean. Guenther Steiner has also admitted that it is a big gamble, and it remains to be seen whether the gamble pays off.