P1racenews AI automatic summary:
It is the end of a long dispute, and a decision that will not go down well with the F1 team.
Haas has been ordered to pay compensation to Uralkali following a ruling by the Swiss Arbitration Centre in favor of Uralkali, the former title sponsor of the F1 team, after a lengthy legal dispute. The termination of contracts with driver Nikita Mazepin and Uralkali came after Russia’s invasion of Ukraine in early 2022. Uralkali demanded the return of $13 million sponsorship money paid in advance, leading to Haas insisting on terminating the contract due to potential reputational damage. Despite Haas demanding compensation from Uralkali, the SAC sided with Uralkali, stating that Haas was in violation of the contract and rejecting all of the team’s counterclaims. The end of the dispute has been announced, with Uralkali expecting Haas to fulfill its payment obligations promptly for the development and modernization of the company’s production facilities.
