Rich Energy terminate contract with Haas Formula 1 team

10-07-2019 17:43 | Updated: 10-07-2019 23:50
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Rich Energy terminate contract with Haas Formula 1 team

Rich Energy, sponsors of Haas F1 team, has ended their contract with the American team ahead of the British Grand Prix. The energy drinks company say this is down to poor results following the Austrian Grand Prix. They also take a dig at the way Formula 1 works.  

The team has been forced to remove their logo from the Formula 1 car a number of times during their time in the sport. This was due to a copyright issue with a bikes company. 

At the start of the 2019 Formula 1 season, Rich Energy's CEO described the team as having 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. 

“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.” 

Though that honeymoon period seems to have run out quicker than expected. Rather than fighting for the 'best of the rest position', Haas find themselves near the foot of the contructors championship. Last time out in Austria, Kevin Magnussen split the two Williams cars while Romain Grosjean could only manage P16. Haas' last points finish came in Monaco

Today @rich_energy terminated our contract with @HaasF1Team for poor performance. We aim to beat @redbullracing & being behind @WilliamsRacing in Austria is unacceptable. The politics and PC attitude in @F1 is also inhibiting our business. We wish the team well #F1 #richenergy

— Rich Energy (@rich_energy) 10 juli 2019

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