Haas F1 signs American-based company to three-year title sponsorship deal

Haas F1 title sponsor
Andy Hone / LAT Images

Eight months after Haas F1 hastily pulled Russian sponsorship off its cars following Russia’s invasion of Ukraine, the team has a new title sponsor.

Even better for Haas, the only American-owned team in Formula One now will be backed by a global company headquartered in Dallas, Texas.

MoneyGram was introduced as the new title sponsor for the Haas race team on Thursday ahead of the United States Grand Prix in Austin, Texas. The team will be called MoneyGram Haas F1 beginning next season, and the two-car livery will change for a look that incorporates the red and white colors favored by both Haas Automation and MoneyGram, a digital money transfer company.

It is a three-year entitlement deal, the Associated Press has learned, and gives the Haas team an American-based anchor as the team continues to fend off bigger F1 organizations tapping into the North American market.

“This was the best sponsor for us,” Haas team principal Guenther Steiner told the AP. “We had interest, serious interest, from another company, and we chose MoneyGram, and one of the reasons was because the other company was not American.

“That matters a lot to me because we are the only American team, and we are showing how fast the sport has grown that a smaller team like ours can get a big sponsor like MoneyGram. It brings so much value to the team.”

Haas, which is partially run from the shared North Carolina campus with the Stewart-Haas Racing NASCAR team, launched in 2016 as a way for Gene Haas to put his tool machine company on a global stage. Haas Automation has seen an international boost from its presence in F1, but Haas would like to make money, as well.

Steiner said the F1 team has yet to turn a profit with Haas and Haas Automation absorbing the losses. The need for outside sponsorship is vital, and Haas has had a bad stretch of luck finding good partners.

Haas signed a multiyear deal ahead of the 2019 season with a London-based energy drink company and dropped the Haas Automation colors for Rich Energy’s black-and-gold look. But the two sides didn’t even make it to the end of the season in a bitter split that forced Haas to reevaluate its spending.

The team essentially decided to freeze spending ahead of the 2021 season, the last with that version of the F1 car. Haas cut costs by releasing veteran drivers Romain Grosjean and Kevin Magnussen and signing a pair of rookies in Mick Schumacher and Nikita Mazepin.

With Mazepin came a new entitlement deal in which the Russian fertilizer company owned by Mazepin’s father was now funding the American cars. The red, white and blue on the cars was re-arranged to resemble the Russian flag, and that’s how the team ran in 2021 when Mazepin was one of the worst drivers on the grid.

Mazepin was due to return for a second season, but Haas reacted to Russia’s invasion of Ukraine by dropping both Uralkali and the driver a month before F1’s season opener.

Alex Holmes, chairman and CEO of MoneyGram, was aware of Haas’ sponsorship fiascos. Holmes wondered if the notion that Haas is one of the more cash-strapped teams on the grid has been fueled by a perception created on the popular “Drive to Survive” behind-the-scenes Netflix hit.

Andy Hone / LAT Images

“They would not be in Formula One, competing in Formula One, if they had actual, real, financial trouble,” said Holmes. “At the end of the day, when you look at any sponsorship or looking at putting your name anywhere, there is a lot of reputational thought consideration. You want to make sure who you are partnering with are good people, they’ve got drivers who say the right things, and you want to have a good partnership you feel good about.”

MoneyGram, founded in 1980, has been involved in sports sponsorship for some time, including Dallas FC near its headquarters, but now has partnered with the sport with the fastest-growing North American viewing audience in its new deal with Haas.

Haas is a backmarker team, and MoneyGram could have done deals with the paddock’s top teams. But with Haas, it could get title sponsorship, and because F1 races on five different continents, the value of the deal was too good for MoneyGram not to buy the rights.

“The coverage we are going to get for that and the return on value – I mean, it’s expensive to sponsor a sport,” Holmes told AP. “It’s expensive to sponsor Formula One. But when you get passive value, it’s very different from active value, and I think we’re getting just an incredible amount of active value just from the amount of global coverage in the sport, and we know the MoneyGram F1 cars will be on TV nearly every week around the world.”

Seattle Supercross by the numbers: Three riders separated by 17 points


Three riders remain locked in a tight battle with 17 points separating the leader Cooper Webb from third-place Chase Sexton and these are only a few Supercross numbers to consider entering Seattle.

Seattle Supercross numbers
Chase Sexton made a statement in Detroit with his second win of 2023. – Feld Motor Sports

For the fifth time in 10 rounds. Sexton, Webb, and Eli Tomac shared the podium in Detroit. Between them, the trio has taken 23 podiums, leaving only seven for the remainder of the field. Jason Anderson, Ken Roczen and Justin Barcia have two each with Aaron Plessinger scoring the other.

Webb and Tomac won the last four championships with two apiece in alternating years, but they were not one another’s primary rival for most of those seasons. On the average, however, the past four years show an incredible similarity with average points earned of 21.0 for Webb and 21.3 for Tomac. With five wins so far this season, Tomac (23 wins) leads Webb (19) in victories but Webb (43) edges Tomac (41) in podium finishes during this span.

Tomac has won two of the last three Seattle races and those two wins in this stadium are topped only by James Stewart. Fittingly, if Tomac gets a third win this week, he will tie Stewart for second on the all-time wins’ list. Tomac tied Ricky Carmichael for third with 48 wins at Oakland and took sole possession of that spot with his Daytona win.

Sexton still has a lot to say and after winning last week in Detroit, he is speaking up. The Supercross numbers are against him entering Seattle, however, because a points’ deficit this large after Round 10 has been erased only once. In 1983 David Bailey was 47 points behind Bob Hannah, and like Sexton he was also in third place. Bailey took the points’ lead with one race remaining.

The seven points Sexton was penalized last week for jumping in a red cross flag section in Detroit could prove extremely costly.

In fact, it has been a series of mistakes that has cost Sexton the most. In the last two weeks, he lost 10 points with a 10th-place finish to go with his penalty. Erase those, and all three riders hold their fate in their hands.

Plessinger’s heartbreak in Detroit is still fresh, but the upside of his run is that was his best of the season and could turn his fortunes around. Prior to that race, he led only seven laps in three mains. He was up front for 20 laps in Detroit with five of those being the fastest on the track.

Last week’s win by Hunter Lawrence tied him with his brother Jett Lawrence for 17th on the all-time wins’ list. With the focus shifting to 250 West for the next two rounds, Jett has a great opportunity to pull back ahead. The real test will be at the first East / West Showdown in East Rutherford, New Jersey on April 22.

Last Five Seattle Winners

2022: Eli Tomac
2019: Marvin Musquin
2018: Eli Tomac
2017: Marvin Musquin
2014: Ryan Villopoto

2022: Hunter Lawrence
2019: Dylan Ferrandis
2018: Aaron Plessinger
2017: Aaron Plessinger
2014: Cole Seely

By the Numbers

Anaheim 2
San Diego

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Chase Sexton wins in Detroit, penalized seven points