Haas team principal Guenther Steiner claims ‘money is overrated’ in Formula One

Gunther Steiner has been with Haas since the team's inception in 2016.

Haas team principal Guenther Steiner claims ‘money is overrated’ in Formula One

Guenther Steiner (Credits: PlanetF1)

Haas has not shown signs of improvement in the 2023 season. The team is eighth in the constructor’s standings, with their drivers Nico Hulkenberg and Kevin Magnussen at P14 and P18, respectively, in the WDC standings. When asked about Haas’ plan to increase their investment sources to improve the team’s position, team principal Guenther Steiner said money is “overrated.”

Steiner said that mindlessly injecting money into a team will not do anyone any good. He emphasized the need for a business model that each team should have. He says that the current Haas business model does not require outside investments.

“I think it’s not about money, it’s about a business model. So we don’t need to make this investment. It’s not just about money In Formula 1, I think money sometimes is overrated – people think, if you invest 100 million, you can beat Mercedes,” Steiner told PlanetF1.

Steiner also expressed how important the people working in the team are. He said that rather than the money, the people make a difference. He said, “You can invest 100 million in your facilities and in your equipment, but then you still need the people because the difference is the people.”

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Guenther Steiner chooses between the old F1 and the post-Drive to Survive F1

Drive to Survive
Drive to Survive (Credits: Sports Illustrated)

Although F1 has been very popular since the sport’s inception, the release of Netflix’s Drive to Survive exploded the sport’s popularity worldwide. Haas principal Guenther Steiner recently talked about his preference between the two forms of F1.

Talking about his newfound popularity and fame, Steiner admitted it has been weird for him. He said that he never tried to become that. But he also admitted that this increased popularity has been very good for the sport as any motorsport requires a lot of finances to function. He said that he is a part of the sport’s fame whether he likes it or not, and it is his role to see it through.

“I think it is good for Formula 1.. because of the whole business growing because then we make it sustainable. Motorsport is very difficult to keep alive because it costs a lot of money. Would it be nicer sometimes to walk in without being asked for selfies and autographs? Yeah but if it is there, you have to do it.” said Steiner.

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