Saying farewell to Nikita Mazepin isn’t a big loss for Haas but ending their sponsorship deal with Uralkali will cost the team “$10 million” per season reports GlobalData.
That’s just under a quarter of Haas’ overall sponsorship intake.
Reacting to Russia’s invasion of the Ukraine, Haas announced on Saturday that it had terminated its deals with both Mazepin and Uralkali.
Although the FIA gave the go-ahead for Russian drivers to continue racing, having to do so under the FIA flag, Mazepin’s place at Haas was linked to Uralkali, the Russian fertilizer company paying for his race seat.
As Haas could no longer continue with Uralkali, team owner Gene Haas acknowledging that they could “not deal with all that, our other sponsors can’t deal with all that”, Mazepin was also out.
Jake Kemp, a Sport Analyst at GlobalData, said: “One of the most impacted teams is Haas.
“While the loss of Russian driver Nikita Mazepin will not be too damaging – Mazepin was consistently outperformed by his German team-mate in 2021, only out-qualifying Mick Schumacher at two grand prix, and losing to him in races on 16 occasions — the team’s termination of a sponsorship partnership with Uralkali will hit hard.
“This $10-million-a-year deal had a major influence on the team’s ability to compete in 2021, representing a significant chunk of the estimated $43.65 million generated in sponsorship by the team during the 2021 season.
“The loss also pushes Haas back to 13 major brand partners for the 2022 season, putting them alongside Scuderia AlphaTauri as the team with the fewest sponsors in the sport.
“Haas has been fighting at the back of the grid for the past few seasons, so losing a significant financial contributor will hurt its efforts in the sport this year and likely see it fighting at the back of the grid again.”
Haas are currently searching for a replacement for Mazepin but the team is adamant they will survive financially despite losing Uralkali’s millions.
But it is not only Haas’ budget that’s been hit, the team will also have to change its colours.
Although Haas insisted last season that the blue-white-and-red were not the Russian colours, it seems as if that livery won’t be allowed on this year’s grid.
“Further ramifications for Haas could include a colour design overhaul of the new 2022 livery, as the Russian colours were previously attributed to the team on the back of the team’s association with Uralkali,” said Kemp.
Formula 1 has already terminated its deal with the promoters of the Russian Grand Prix, announcing that it won’t be racing in Russia in the future.
That is costing Formula 1 a pretty penny.
Kemp added: “The Russia-Ukraine situation is having seismic consequences on global sport, F1 included. One of the most notable changes is around the removal of Russian Grand Prix hosting rights, as the sport was previously expected to visit the resort city of Sochi between 23 and 25 September 2022.
“Russia is one of the biggest payers for hosting rights, so the loss of the Russian Grand Prix will equate to substantial lost income – reported to be in excess of $50 million this season.”
Source: Read Full Article