Want more from Front Office Sports
in your search results?
American-owned Haas F1 cars were trapped in the Netherlands after their former sponsor, the Russian fertilizer company Uralkali, asked Dutch authorities to step in and pressure the team to make good on payments it owed following a terminated deal.
Haas ended its $13 million sponsorship deal with Uralkali in March 2022 following Russia’s invasion of Ukraine. A Swiss arbitration court hearing in June said Haas was allowed to do so, but needed to pay Uralkali back all of the money that went past the date it spiked the agreement. That amount totaled $9 million and one F1 car, according to Motorsport.com.
Uralkali said Haas had missed a July deadline for the payment and had Dutch authorities visit Haas in the pit Thursday at the Dutch Grand Prix. As authorities threatened to seize the team’s assets, owner Gene Haas made the payment Friday night. To avoid sanctions on Russia, Haas transferred the money through an account in the Middle East, but it didn’t make its way to Uralkali due to weekend closures. The team was unable to leave the Netherlands for the upcoming Italian Grand Prix until the payments cleared.
Uralkali said Monday that it had received the payments, which freed Haas up to leave for Italy.
“Uralkali confirms that we have received in full the payment owed by Haas (including interest and fees) following the ruling of the Swiss court of arbitration. We have also collected the race car owed to us under the terms of the sponsorship agreement,” the company said in a press release Monday. “As such, Uralkali has notified Dutch authorities that they may release Haas’ assets from arrest as an interim measure, and Haas is free to take them out of the Netherlands.”
A representative for Uralkali said it could not confirm the exact amount the team owed “due to confidentiality requirements established by the court.” Haas did not immediately respond to requests for comment.
Gene Haas’s NASCAR team with four cars, Stewart-Haas Racing, is shutting down when the 2024 season ends. But the owner will keep part of the business alive as the Haas Factory Team, with one car in NASCAR and two in the Xfinity Series.
Download the FOS App
The business of sports, in your pocket.
Scan the QR code to get the app now.
