Haas F1 Team to Lose Rich Energy Sponsorship

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Drinks company Rich Energy have been the sponsors of the Haas F1 team since the start of the 2019 season. However, in the face of their legal issues, more trouble has emerged for the Haas F1 team. Now, Rich Energy has terminated their contract with the American team ahead of the British Grand Prix.

The energy drinks company cited poor results following the Austrian Grand Prix as the reason for the split. In the process, they also took a stab at Formula 1’s inner workings. Since then, Haas F1 has been forced to remove their logo from the car several times. This was largely due to a copyright issue claimed by a bikes company.

When the 2019 Formula 1 season commenced, Rich Energy’s CEO believed that Haas F1 possessed the “best business model in the sport”.

“They have the best business model in the sport, they are uniquely positioned to exploit regulation changes and I think they are run in a very, very unpretentious fashion.

Kevin Magnussen
Haas F1

“I think they are proper racers – Gene Haas is a wonderful businessman who’s approaching motor racing in the right way, Gunther Steiner is a brilliant team principal and they’ve got two drivers with personality. Overall we are delighted.” 

Unfortunately, that honeymoon period seems to have run out quicker than expected. Instead of battling to be ‘best of the rest’, they are floundering near the tail of the constructors championship. Last time out in Austria, Kevin Magnussen split the Williams duo while Romain Grosjean finished P16. The situation was all the more embarrassing, considering the team’s last points finish came in Monaco.

In a statement on Twitter, Team principal, Guenther Steiner said, “Rich Energy is currently the title partner of Haas F1 Team. I cannot comment further on the contractual relationship between our two parties due to commercial confidentiality.”

According to some sources, the logos will still remain on the car for the British Grand Prix. However, plans for the American outfit beyond that race, is to be seen.

F1
Guenther Steiner