Haas Formula 1 has announced a deal with a British energy drink company that will change the name of the team to Rich Energy Haas F1 Team.
The partnership is described as a multi-year deal that impacts the team name and will result in a significant livery change to incorporate the colors of Rich Energy.
“We are delighted to become the official title partner of Haas F1 Team in Formula One,” said William Storey, chief executive officer of Rich Energy in a press release. “Our companies share a synergy in our work ethos, and our desire to bring something new to the table in an environment made up of established brands.
“We revel in competition, and through our distinctive collaboration, we’re looking to further prosper, delivering an exciting concept for the promotion of Rich Energy to the consumer along the way. Formula One is a premium product in its own right, and our partnership with Haas F1 Team ensures we have a prized asset on which to build our global marketing efforts.”
Rich Energy, which was launched six year ago, will use Formula 1 as the centerpiece of its worldwide marketing campaign to expand beyond the 30 countries that currently sell its product.
“Securing a title partner in Rich Energy is another milestone moment in the development of Haas F1 Team,” said Guenther Steiner, team principal, Haas F1 Team. “We welcome their commitment to us as an organization, and together we share an ambition to advance further in our respective fields.
“It’s going to be exciting for us as a team to be the focal point of Rich Energy’s marketing endeavors, as we go into both new and existing consumer markets around the world in Formula One. As we have seen already this season, our own continued push for performance has delivered on-track, and I have no doubt that the platform we provide for Rich Energy will translate into equally favorable dividends.”
In just its third year of existence, Haas F1 sits fifth in the overall constructors’ standings.
Drivers Kevin Magnussen and Romain Grosjean sit ninth and 13th in the drivers standings.