“The claim is ungrounded and rejected,” Haas decline multi-million dollar sponsorship payback

“The claim is ungrounded and rejected,” Haas decline multi-million dollar sponsorship payback

F1 team Haas

Following Russia’s military invasion of Ukraine, Haas F1 decided to terminate Nikita Mazepin’s contract ahead of the 2022 Formula One season. The American F1 team decided to sever ties with title sponsor Uralkali. Mazepin’s new foundation ‘We compete as one‘ serves athletes who were barred from sports due to political reasons. He promised to fund this foundation through Uralkali’s sponsorship money given to Haas.

Nikita Mazepin is the son of a Russian Oligarch, Dimitry Mazepin who is the majority shareholder and chair of Uralchem, the parent company of Uralkali. Uralkali responded by threatening to sue Haas as a result of their early termination, and demanded the American F1 team return the sponsorship money paid this year. They released a statement in March following the exit from the sport requesting “the immediate reimbursement of the amounts received by Haas.”

Haas has released a statement rejecting the company’s payback demands. The team demand $8.6million from the Russian company as a “loss of profit” fee and shall not give Mazepin his 2021 car and pay his 2022 salary unless agreed.

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Also Read: Uralkali seek “immediate reimbursement” from Haas over sponsorship termination

Haas: “No obligation to return to such party what it has already received”

Mick Schumacher and Kevin Magnussen
Mick Schumacher and Kevin Magnussen

Haas has rejected that they owe their former title sponsors Uralkali the money they’re seeking. The American F1 team stated that they do not owe money according to the terms agreed of their exit from the team. Haas demanded $8.6million from the Russian fertilizer company the considered a loss of earnings had the partnership continued.

The letter from the team reads: “According to unanimous legal scholars and case law, the party which terminates the agreement for breach of the other party is under no obligation to return to such party what it has already received under the agreement. The claim of Uralkali to obtain the re-payment of the down paid amount of EUR 12,000,000 is therefore ungrounded and rejected.”

The team recalled former driver Kevin Magnussen to race as a replacement for Nikita Mazepin. The Dane has had a great start to the season claiming points on the first two races of the 2022 calendar so far. Haas rank 7th on the Constructor’s standings with 12 points.

Also Read: “That is about the sanctions,” Nikita Mazepin labels sporting restrictions as…