Mazepin race again: Formula One team does not refund sponsorship money Motorsport

The competition will demand another 8 million euros to compensate for the loss of income. This is announced by a well-established website Motorsport.comwho have read the legal correspondence.

Earlier this year, Haas terminated a sponsorship deal with Uralkali and fired Nikita Mazepin, the Russian owner of the company’s owner. The team did so after Russia’s invasion of Ukraine. The Mazepin family has close ties to President Vladimir Putin. Tallep replaced Kevin Magnussen of Denmark with Mazepin. Mazepin said just a few days after his resignation, he would set up a Formula One team with a sponsored fund.

Uralkali demanded repayment of the 12 million euros invested in the company’s racing stable, as Haas claimed that the company had not fulfilled its obligations. Haas denies, arguing that the team had every right to terminate the contract unilaterally without financial consequences because the sponsor has “damaged Haas’ reputation and reputation.”

Shocking treatment

“Legal experts and case law unanimously state that a party who terminates a contract due to the insolvency of the other party is not obliged to reimburse that party for what she has already received under the contract,” Haas told Uralkal in a letter. The stable also does not meet the requirement to give the driver one of the Formula 1 cars that Mazepin drove in the 2021 season. That would be the point of the original sponsorship agreement. Haas only wants to do this if Uralkali transfers the lost EUR 8 million.

The Russian company would be shocked by Haas’s refusal, an insider said Motorsport.com† “Everyone understands that the world is in a difficult situation, but it’s a really shocking treatment from a nominal sponsor who intervened last season when the team was in dire need of resources. They seem to be spending Russian money – and asking for more – but don’t want to, to keep the Russians close.

Fastenings on the villa

Italian police also seized Nikita and his father Dmitri’s villa earlier this week. Villa in the north of Sardinia, the so-called Rocky Ramincluding household goods, would have a total value of more than € 100 million.

The activities of the Italian police are part of a larger project. In the past, several villas and yachts with a total value of 900 million euros were confiscated from rich Russians on the European sanctions list.

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