Haas and Rich Energy terminate 2019 F1 title sponsorship deal

The Haas Formula 1 team's title sponsorship deal with Rich Energy has been terminated, with Haas citing a "corporate restructuring process" at Rich as the main factor

Haas and Rich Energy terminate 2019 F1 title sponsorship deal

Team boss Gunther Steiner said last month that Rich Energy would take a final decision on the contract before the Singapore Grand Prix, and a statement released by the team on Monday confirmed an 'amicable' end to the deal.

Haas's cars will run in the same black and gold livery until the end of the season, but all Rich Energy branding will be removed.

"Haas F1 team and Rich Energy have amicably agreed to end their partnership together in the FIA Formula 1 World Championship with immediate effect," the statement read.

"While enjoying substantial brand recognition and significant exposure through its title partnership of Haas F1 Team in 2019, a corporate restructuring process at Rich Energy will see the need for a revised global strategy.

"Subsequently, Haas F1 Team and Rich Energy concluded a termination of the existing partnership was the best way forward for both parties.

"Haas F1 Team would like to express its thanks and best wishes to the stakeholders at Rich Energy."

The energy drinks company agreed a deal last October to become Haas's main sponsor for 2019, having previously explored opportunities with teams including Williams, Force India and McLaren.

But the nascent partnership between Rich and Haas was placed in doubt in July, when Rich Energy's then CEO William Storey announced he had "terminated" the deal with the American F1 team due to "poor performance".

Shareholders then attempted to preserve the deal after that, and Rich Energy's branding has remained on the VF-19 in the subsequent races, including last weekend's Italian Grand Prix.

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