P1racenews AI automatic summary:
The Swiss arbitration court has ruled in Haas’ favour over a court dispute involving the Formula 1 team’s decision to end a title sponsorship deal with Uralkali in 2022. Uralkali, a fertiliser producer which Dimitry Mazepin owns, became the American outfit’s title sponsor in 2021 owing to Nikita Mazepin’s promotion to a full-time drive. Uralkali […]
In 2021, Uralkali, a fertiliser producer owned by Dimitry Mazepin, became the title sponsor of an American team due to Nikita Mazepin’s promotion. The $13 million sponsorship was meant to cover the 2022 season, but the partnership ended after just one race following Russia’s invasion of Ukraine. Uralkali claimed Haas failed to fulfill its obligations and sought legal action. The arbitration tribunal found that Haas had valid grounds for terminating the contract and ordered compensation. Haas cited the geopolitical situation and the risk of association with Russia as reasons for ending the agreement. The sponsorship was deemed terminated, with Haas to retain a portion of the fee and refund the rest to Uralkali.
