“Losing $40M a year is acceptable,” Gene Haas as Haas drops Russian sponsors Uralkali

“Losing $40M a year is acceptable,” Gene Haas as Haas drops Russian sponsors Uralkali

Nikita Mazepin and Gene Haas

Russian President Vladimir Putin’s declaring war against Ukraine has been a bolt from the blue and Gene Haas and F1 team Haas has been caught in middle of it all. The world has been sent into a state of shock as the situation continues to worsen in Ukraine after Russia opened arms on their neighboring with an intent to take over the country.

The news hasn’t been taken well across the globe and the same is the case with F1. The community has decided to give it back to the Russian President in their own capacity as they take a firm stand against any sort of aggression which should be the case in a democratic world. Dialogue should be the way of resolving an issue and not ‘War’.

F1 team Haas has decided to pay amidst the chaos in Ukraine as they voluntarily drop their Russian sponsors Uralkali and also have started to think about the future of their Russian driver Nikita Mazepin, the son Dmitry Mazepin who has financially backed the team all the way.

FS Video

Gene Haas and Haas F1’s stand against war stays firm even amidst financial vulnerability

F1 team Haas and Vladmir Putin
F1 team Haas and Vladimir Putin

We all can understand that this is the right thing to but this shall also have serious financial implication with Haas already being in a financial conundrum. But still the team has decided to go ahead with their decided as Gene Haas intends to use Haas F1 as a marketing tool for the automation of Haas.

Gene Haas even further added that even losing a sum of in excess of 40 million dollars won’t be a disaster and could find a way around after losing Mazepin’s sponsors.

“Gene Haas is willing to operate at a loss in F1 because “he gains both marketing benefits from having his company’s name on F1 cars, and research and development insights.”

“It seems that the sponsorship from Uralkali was a chance for Haas F1 to ‘break even’ or potentially make some profit. However, given that Haas competed in F1 pre-budget cap, it seems reasonable they will be able to survive this season with or without Mazepin’s sponsors.” As reported by Financial Times.

The situation might be dicey as far as Haas’s financial condition, but the team looks rock solid as far as their decision go regarding dropping their Russian sponsors Uralkali in the wake of the events in Ukraine. Apart from that, Gene Haas has a marketing play to make money off the track with Haas F1.

Also Read: Barcelona Pre-Season Testing: Which F1 team looked the most impressive in the first three days of winter testing?