Haas ready to deal with Uralkali loss of income

Haas can bear the loss of revenue if its ties with title sponsor Uralkali are severed, according to team principal Guenther Steiner.

The Russian fertilizer producer’s brand was removed from team cars and facilities on the final day of last week’s testing at the Circuit de Catalunya. The associated color scheme that matched the flag of Russia was also removed after the country invaded Ukraine on Thursday.

Steiner said the disruption would not affect the team’s ability to compete in Formula 1 this year. “It’s a headache, because it’s work, but it’s not something that disrupts the team competitively,” he explained.

“Financially, we are doing well. He has no [implication] about the team, how we’re running it or how we’re doing, how we’ve planned this season. There are more ways to get the finance so there is no problem with that one.

The team said they will decide in the coming weeks whether they will continue their association with Uralkali. However, he continued to remove company logos from his public appearances, including its website.

As a result of the invasion, Russian individuals and businesses have been hit with a series of sanctions from the United States, European Union, United Kingdom and other countries. Yesterday, a group of Russian banks were removed from the SWIFT (Society for Worldwide Interbank Financial Telecommunication) messaging system that handles payments, preventing many companies in the country from carrying out transactions abroad.

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Speaking on Friday, Steiner said it was unclear whether the disruption to the SWIFT system would have consequences for Haas. “So far, official sanctions from either government have had no influence on our business,” he said. “I should check with my finance department if SWIFT is disabled, how it works, because Uralkali is a global company. I don’t really know how it would work.

Haas joined his team in Spain

The team completed their deal with Uralkali at the end of 2020 after facing financial difficulties during the Covid-19 pandemic. Steiner admitted the latest setback was unforeseen, but he’s sure it won’t hurt the team’s competitiveness this year.

“We didn’t plan for this. Obviously we monitor situations, we don’t sit in the dark until something happens. But when it happens, you have to see how it develops.

“I’ve never experienced anything like this, so I didn’t know how it would go. But I think we handle it the same way in the future.

“The team on the race track, they are not affected by this,” he added. “I spoke with them yesterday and told them there was nothing to worry about for them, everything is fine, it’s a bump in the road that we weren’t expecting and no one is worried. was waiting there. No one wants it, you know?

“I think as a team we made the right decision at this very moment to also send a message to everyone. We are behind the team, the team is behind us, what we are doing .

Team owner Gene Haas visited last week’s test in Spain. Steiner says he “supports the decision” to drop the Uralkali brand from their team.

“There is no problem with that one with him. He stands behind the position, he owns the team, so he knows what we are doing and knew what we are doing and he supports it.

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