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Rich Energy announce Haas sponsorship termination

Silverstone, UK

British Grand Prix – Haas’ team sponsors Rich Energy have taken to Twitter to announce they are pulling their sponsorship, citing poor performance.

Haas’ 2019 title sponsor, British energy drinks supplier Rich Energy, have announced they are pulling the plug on their sponsorship of the team after just a few months.

Citing the team’s ‘poor performance’, the drinks company’s tweet said: “Today, we terminated our contract with Haas F1 Team for poor performance. We aim to beat Red Bull Racing & being behind Williams Racing in Austria is unacceptable. The politics and PC attitude in F1 is also inhibiting our business. We wish the team well.”

Haas are yet to pass comment on the story, but have already turned up at Silverstone with the team decked out in their usual Rich Energy clothing and liveries.

Outside of F1, Rich Energy have been embroiled in an ongoing court case surrounding their stag logo. British cycling manufacturer Whyte Bikes took them to court in May, and won their case that Rich Energy had copied the logo from them. Following this, the stag logo was removed from the Haas F1 cars but further court orders meant that Rich Energy must cease using their own logo by July 18th – just eight days on from the date of this Twitter announcement.

The full details of the court orders can be read here, and also include details of how the drinks company must hand over information, financial and personnel, surrounding the title sponsorship with Haas, including where the money came from and who it came from.

All copyright infringing material (ie. drinks cans, clothing, merchandise) must also be relinquished to Whyte Bikes or destroyed by July 18th.

The company was largely unheard of prior to their title sponsorship of the Haas team, with a questionable balance sheet filed in early 2018 that suggested funding such a high profile deal could be difficult.

Breaking story. More to follow.

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Thomas Maher

Co-owner, Chief Editor and a journalist for FormulaSpy.com - Ireland's only accredited F1 & Formula E website. Also working in the Irish radio broadcasting industry. Donations: PayPal - paypal.me/thomasmaheronf1 ETH/ERC20 - 0x9d0b8071180AAcB0bD5f0c1d43281768C73e8763

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