P1racenews AI automatic summary:
Haas’ payment dispute with former sponsor Uralkali has been resolved after the company confirmed receipt of funds, freeing the team to travel from Zandvoort to Monza. The Russian company, which was Haas’ title sponsor in 2021, made a bid to seize the squad’s assets – including cars and equipment – via the Dutch courts on […]
The Russian company, which was Haas’ title sponsor in 2021, sought to claim the team’s assets, such as cars and equipment, through Dutch courts on Thursday. Uralkali alleged that the team failed to meet a payment deadline in July for a part-refund of a sponsorship fee, which Haas canceled at the start of the 2022 Formula 1 season due to the Russian invasion of Ukraine. Swiss arbitration courts upheld Haas’ right to terminate the sponsorship but required the team to repay about two-thirds of the $13 million fee. Dutch authorities notified Haas at Zandvoort of Uralkali’s legal action, permitting the team to race but prohibiting the assets from leaving the country until payment was received. Haas has since confirmed making the payment to Uralkali, enabling its trucks to depart for Monza, Italy for the upcoming Formula 1 event. Uralkali has acknowledged receiving the payment in full and released the team’s assets from arrest in the Netherlands.
