The Formula 1 team Haas will not return the sponsorship money and will leave Mazepin intoxicating in Formula 1

American Formula One team Haas refuses to pay back 12 million euros in sponsorship to billionaire Dmitry Mazepin’s Russian fertilizer company Uralkali.

The competition will demand another 8 million euros to compensate for the loss of income. This is reported by the well-established website Motorsport.com, which has seen 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.

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.”

Earlier this week, Italian police seized the villa of Nikita Mazepini and his father Dmitri, allegedly worth more than € 100 million.

“Legal scholars and case law unanimously state that a party who terminates a contract due to the insolvency of the other party has no obligation to reimburse that party for what it 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.

‘shocking’

The Russian company would be shocked by Haas’s refusal, an insider told 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 the Russians would be nearby.


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