23/08/2024
NEWS STORY
Haas' battle with its former sponsor took a new twist today when bailiffs attempted to seize the American outfit's assets.
The Russian potash giant, which was dropped as the team's title sponsor - along with driver Nikita Mazepin - when Russia invaded Ukraine in February 2022, is demanding a refund of $13m (£10.2m) in sponsorship money, together with $8.6m (£6.8m) in compensation, while Haas alleges it is still owed €8m (£6.7m).
The case went to arbitration but Haas failed to meet the deadline in paying the balance of sponsorship money owed as agreed by the Swiss tribunal.
Bailiffs, accompanied by the police, visited the team on Thursday evening and while, following a full inventory, an agreement was reached whereby the team can continue to contest this weekend's Dutch Grand Prix none of its equipment - including the cars - can leave until payment has been made.
"Haas fully intends to pay to Uralkali all amounts due pursuant to the arbitration award, and there is no dispute over the amounts owed," reads a statement issued by the American team.
"Haas has been working with its lawyers to ensure payment will comply with all relevant US, EU, UK and Swiss sanctions and regulations," it continued. "We will continue working with Uralkali in the coming days to resolve this matter definitively."
"We are aware that Dutch bailiffs, accompanied by police, last night arrived at the Haas paddock and took an inventory of all racing equipment and other property," res[ponded Uralkali in its own statement.
"This is the expected consequence of Haas' refusal to obey the ruling of arbitrage awarding payment and a race car to Uralkali.
"The arbitral ruling was issued June 12 with immediate effect and has been ignored by Haas. Haas has had over two months to implement the ruling, and, as was reported previously, Uralkali reached out to Haas' representatives with options about how to make payment and where to send the race car, without ever receiving a substantive answer.
"There are not now and never have been any sanctions issues preventing Haas from fulfilling its obligations. Nevertheless, they have gone unfulfilled.
"We are delighted to hear that, following last night's visit from Dutch authorities, Haas is finally paying attention to the arbitral ruling.
"Uralkali wants nothing more than to receive what it was awarded during a fair judicial process and hopes that Haas will move quickly to rectify the situation so that all sides can move on."
If nothing else, it could make an interesting sub-plot to the F1 movie, not forgetting the fact that with all the teams said to be worth in the region of $1bn - according to Zak Brown - a few million should be a drop in the ocean for the American outfit.
Check out our Friday gallery from Zandvoort here.