Haas’ former title sponsor, Russian company Uralkali, is pressing the court to return the damages it is owed: cash and a Formula 1 car.
After Haas terminated the contract in early March 2022, suspended driver Nikita Mazepin from participation and refused to refund the money, a long dispute ensued between them, which eventually reached the Swiss Arbitration Tribunal.
In June, the court confirmed that Haas had the right to terminate the deal, but could only keep a portion of the amount: $13 million. The court ordered the return of $9 million paid after March 4, 2022, when the deal had already ended. In addition, the team had to fulfill its obligation by providing Uralkali with a 2021 Formula 1 car.
In a statement released Tuesday, Uralkali said:
Information message from PJSC Uralkali about the decision of the arbitral tribunal in the Haas case.
Haas F1 Team does not comply with the decision of the Swiss Arbitration Tribunal in the Uralkali case.
In accordance with the final decision of the Swiss Arbitration Tribunal of June 12, 2024, Haas F1 Team was obliged to immediately repay the balance of the sponsorship fees from the terminated contract with Uralkali, including interest and arbitration costs.
In addition, the tribunal gave Haas one month to return the team’s 2021 race car to Uralkali, which should have been returned in accordance with the terms of the sponsorship agreement, which was unilaterally terminated by Haas in March 2022.
However, neither the money (as well as the interest and costs) was paid, nor the race car returned, despite the deadline for complying with the tribunal’s decision. Haas also left unanswered a letter from Uralkali in early July with options for supplying the race car. Interest on the awarded sum of money continues to accrue.
“Haas’ failure to comply with the required actions is a flagrant violation of the arbitral tribunal’s decision in which both parties agreed to resolve the dispute. This gives new meaning to the phrase ‘unsportsmanlike conduct.’
“Uralkali will use all available means under the law to enforce the arbitration award,” a representative for Uralkali said, adding: “All current and potential sponsors of Haas should be aware of the treatment they can expect from Haas F1 Team.”
Source: F1 News
I am Christopher Clyde, an experienced journalist and content writer with a passion for sports. I have been writing about Formula 1 news for the past five years and am currently employed as an author at athletistic.com, one of the top sports websites in the US.
