After the Russian invasion of Ukraine, Haas suddenly had to look for a new main sponsor. Russia's Uralkali came into question because of CEO Dmitry Mazepin's ties to Vladimir Putin. The new sponsor ended up being US-based MoneyGram and they see a lot of benefits.
Formula 1 is becoming increasingly popular in the United States. Haas has therefore probably made a good call, as an American team, to have partnered with the company.
Opportunities for the MoneyGram brand
Alex Holmes, CEO of the American payments company, recognises opportunities in this partnership with the racing stable. “People [will begin] to associate the MoneyGram brand in a very different way," he said in an interview with Reuters.
The businessman also sees that F1 is becoming increasingly popular in the United States, especially in Las Vegas. That brings huge benefits. “Personally I see the next several years as continued expansion."
Meanwhile, Haas' new livery has already been revealed and the company's name adorns the car. On 11 February, the new car can already be seen in action during a 'shakedown' at Silverstone.