Post a Free Blog

Submit A Press Release

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Animation
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Dark Comedy
Defense of the Ancients (DOTA)
Documentary and Foreign
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
Kids & Family
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie Trailers
Music
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Thriller
Truck Series (TRUCK)
True Crime
Ultimate Fighting Championship (UFC)
Uncategorized
US
Valorant
Western
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
0
-- Advertisement --spot_img
HomeSportsAuto RacingF1 News: Haas can leave Netherlands after delay over sponsor payment

F1 News: Haas can leave Netherlands after delay over sponsor payment

Add to Favorite
Added to Favorite


The Haas Formula 1 team is free to leave the Netherlands for this weekend’s Italian Grand Prix in Monza after resolving a legal dispute with a former sponsor.

Uralkali, a Russian chemical company, had filed suit in a Dutch court to seize assets from Haas over a failed payment required after a partnership between the two entities was ended in March 2022.

Haas cars and equipment were held at the Zandvoort circuit following the Dutch Grand Prix on Sunday until Uralkali confirmed on Monday that it received a reported $9 million and an F1 car from the American team.

“Uralkali confirms that we have received in full the payment owed by Haas (including interest and fees) following the ruling of the Swiss court of arbitration,” Uralkali said in a statement. “We have also collected the race car owed to us under the terms of the sponsorship agreement.

“As such, Uralkali has notified Dutch authorities that they may release Haas’ assets from arrest as an interim measure, and Haas is free to take them out of the Netherlands.”

Uralkali was the Haas title sponsor in 2022, when the American F1 team elected to cancel the sponsorship deal following Russia’s invasion of Ukraine. The Russian company, which is also a fertilizer producer, had paid $13 million for the sponsorship.

During an arbitration hearing in June, a Swiss court determined Haas was within its rights to end the partnership, but the team had to refund as much as $9 million of the sponsorship funding it received.

Uralkali took action in a Dutch court after a missed July deadline on the payment but allowed Haas to race in the Netherlands. Haas said the payment had been made on Friday but confirmation was delayed over the weekend.

“Uralkali have now confirmed receipt of last Friday’s financial transfer and therefore our trucks have been given clearance to depart the Netherlands and make their way to Italy immediately,” Haas said in a statement on Monday.

–Field Level Media

Subscribe to get Latest News Updates

Latest News

You may like more
more

Women’s Top 25 roundup: No. 7 USC edges No. 4 UConn

No. 7 Southern California blew an 18-point lead but...

Top 25 roundup: North Carolina rallies late to stun No. 18 UCLA

North Carolina freshman Ian Jackson, playing in his hometown,...

No. 23 SDSU shuts down Cal for fifth consecutive win

Nick Boyd bombed in five 3-pointers in a game-high,...

Virginia attempts to get back in win column vs. American

Virginia's only senior is heating up as the nonconference...