The Haas Formula 1 team has confirmed its intention to return funds owed to former sponsor Uralkali, following an arbitration ruling earlier this year. The development comes after bailiffs visited the team’s garage at the Dutch Grand Prix on Thursday night, marking a new chapter in the ongoing financial dispute.
The conflict stems from Haas’s decision to terminate its sponsorship contract with Uralkali in March 2022, following Russia’s invasion of Ukraine. While the Swiss arbitration tribunal ruled that Haas was justified in ending the partnership, it also determined that the team must return payments received prior to the contract’s termination. Uralkali, a Russian chemical company, had demanded the immediate return of these funds and had expressed hope that Haas would comply with the ruling without delay.
However, with Haas yet to return the funds—though reportedly having the money ready for transfer—Uralkali escalated the situation by sending bailiffs to the Zandvoort paddock. The bailiffs’ task was to inventory Haas’s equipment, a preliminary step that could lead to the prevention of the team leaving the Netherlands if the payment is not made by Monday.
In response, Haas issued a statement clarifying its position: “Haas fully intends to pay to Uralkali all amounts due pursuant to the arbitration award, and there is no dispute over the amounts owed. Haas has been working with its lawyers to ensure payment will comply with all relevant U.S., EU, UK and Swiss sanctions laws and regulations. We will continue working with Uralkali in the coming days to resolve this matter definitively.”
The complications surrounding the payment are tied to the multiple sanctions imposed on Russia following the invasion of Ukraine. Haas must navigate these sanctions carefully to ensure compliance with international regulations, which has added complexity to the process of returning the funds.
With the Italian Grand Prix at Monza just a week away, Haas faces a tight timeline. Teams typically transport their equipment by road to Italy starting Sunday night, making the resolution of this issue critical to avoid any disruptions.
As Haas works to settle the matter with Uralkali, the team remains focused on ensuring compliance with all legal requirements while seeking to bring the dispute to a close.
Photo from Haas Instagram
