Gene Haas secures future F1 team with new investment

The Haas Formula One team severed all ties with Russian sponsor Uralkali, and with it the cooperation with Russian driver Nikita Mazepin, following the Russian invasion of Ukraine. To close the budget gap, Gene Haas will likely increase its investment.

Haas continues without title sponsor Uralkali

Following the news around Ukraine, Haas was quick to react. During the test days in Barcelona they drove the car without sponsor Uralkali and the Russian livery disappeared. Not much later the decision followed to end the sponsorship contract and Mazepin no longer had his seat with the team.

Kevin Magnussen was soon appointed as Mazepin's replacement. The Danish driver also drove for the American team from 2017 to 2020.

Increase in investments by Gene Haas

Despite the termination of the sponsorship contract with Uralkali, Haas does not have to immediately fear a budget deficit. According to Racer.com, owner Gene Haas wants to increase his investments in the Formula 1 team, and wth this he wants to secure the future of the team. The fact that Magnussen signed a multi-year contract with the team also shows that there is financial stability. In addition, Haas is said to be in talks with new sponsors.