The Formula 1 team lost the dispute with the Russians. He didn’t pay the millions, the cars and the equipment were stopped by the Dutch executors

Russian company Uralkali has asked Dutch courts to seize the Haas F1 Team’s assets after Sunday’s Dutch Grand Prix pending payment​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​

Internet sports

26.08.2024 06:40

After the race at the circuit in Zandvoort, Holland, the weekend in Monza, Italy will continue in a few days. The individual Formula 1 teams packed their equipment so quickly that they could leave the first trucks for Italy at night. But the American Haas F1 Team remained independent in the land of tulips.

The Haas team were unable to pack their cars and equipment from the Dutch Grand Prix as their former sponsor, the Russian company Uralkali, is awaiting an overdue payment, and estimates the total amount at $9 million. The Russian company appealed to the court to confiscate the assets of the F1 team.

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The single seats and complete equipment were still being assessed by bailiffs and police in the Zandvoort pit lane on Thursday night after Uralkali claimed last month that Haas had missed a July deadline to raise funds. ​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​Refund from a canceled sponsorship contract.

After a hearing by a Swiss arbitration court in June, it was decided that Haas should return to Uralkali part of the sponsorship payment made for 2022, before the contract was cancelled. because of Russia’s invasion of Ukraine. Haas had promised one Formula 1 car as part of the settlement agreement.

While the court said that Haas had the right to terminate the agreement, it also said that the American-owned team could only keep a portion of the total sponsorship agreement for the 2022 season, which was for $13 one million.

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Sources told motorsport.com that Uralkali believes that no attempt was made to recover the money until they tried to seize Haas’ assets at Zandvoort.

Haas insists the payment was made Friday night, with owner Gene Haas saying Sunday afternoon “it’s all settled now.”

According to their own words, the American stable respected the arbitration decision and was ready to pay nine million, but international sanctions were supposed to prevent it from doing so.

Although it was agreed that Haas’ participation in the Dutch Grand Prix could go ahead without problems, the team’s equipment cannot leave the Netherlands, with a court order still in place until the money is transferred to Uralkali account.

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The payment was supposed to be sent through the Middle East because Haas said at first that he had to be sure that each transaction was in full compliance with the sanctions that had been imposed. on several Russian companies.

In a statement on Friday, he said: “Haas fully intends to pay all amounts due under the arbitration award to Uralkali and there is no dispute as to the amounts due pay Haas is working with its lawyers to ensure payments comply with applicable US, EU, UK and Swiss sanctions and regulations.”

Uralkali did not accept the issue of sanctions as the reason for the delay in payment, claiming on Sunday that they had not yet received the funding. At the same time, the Russian company wants information on how and when the promised F1 car will be delivered to them.