Haas F1 team loses majority of sponsors following title partnership with MoneyGram

June 06, 2024

Haas Formula 1 team is the only American team on the grid as of now. In 2021, Uralkali, a Russian-based company was their main sponsor. After the termination of their contract and their Russian driver Nikita Mazepin’s contract, the team was on the hunt for a new sponsor. In October 2022, Gene Haas the owner of the team welcomed MoneyGram as their new title sponsor.

Haas firmly believes that this partnership will bring strength and maximize results on and off the track. Guenther Steiner, the team principal said that they are confident they will reach their full potential with this sponsorship. Haas is one of the teams with the smallest budget, this partnership is supposed to get them further from the midfielders.

Although, the new MoneyGram partnership is a major boost for the team, the team lost majority of their sponsors. The sponsors who left after the signing are 1&1, Ionos, Home Deluxe, Lunar, Under Armour, TransferMate and Cyrus Geneve. Irrespective of this the team will be heavily funded for the 2023 season. This might not be a massive loss yet.

Due to the sponsors leaving, there are many speculations about the reason. The only one that makes sense is their tie-up with MoneyGram. The website removed most of its sponsors making it official. This has caused quite a stir as the teams sponsorship list has been reduced.

Haas was not lucky with the last two sponsors they had. This is however a three-year deal securing them their near future. The team will not be struggling financially as the numbers are huge. They can now close their gap to the budget allocated. The team will now be called MoneyGram Haas F1 team.

Haas is all set to unveil their new car for the upcoming season. There will be just a few names mentioned on the car as a majority of them have left. There will be fewer PR events comparatively. Last season Mick Schumacher was seen in Under Armour outfits promoting the teams’ sponsor. That will not be the case anymore as both the driver and the sponsors are gone.

In case you missed:

Why did Jaguar sell their F1 team for $1?

Zak Brown brands Lando Norris as McLaren’s ‘franchise driver’

ncG1vNJzZmiemafAtb%2FPqKmtsl6YvK57xWpkp52nqHqprcCsZJ9pXamyormMpaasnaNiuqK2zqugrbFdpLNuv8%2Bopaynoqh6p7vLpaawoZ6cerW0xKKpZqyZqbmmec%2Baqa2mlafAqbXPZq6irJhiurC6xLKeq5mdZA%3D%3D