The financial demands of Formula 1 have always proven a limiting factor for Haas and his progress since joining the sport in 2016.
While the newly introduced budget cap has helped close the gap with the spending of F1’s top teams, Haas is still spending below the budget cap – a clear indication of their limited monetary resources.
However, that will change from next season, with Haas announcing a new multi-year deal with MoneyGram as the team’s new title sponsor from 2023.
Guenther Steiner – quoted by Sports car – explained the importance of MoneyGram’s support:
“I always say that with the budget cap, in the medium and long term, there shouldn’t be this problem anymore that you can’t fight for podiums anymore. And that’s what we want to do.
“With this agreement, I think we can take this step which in a few years [so]we can fight for the podiums.
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“I don’t promise [podiums] for next year because we have just come back from two very bad years for us.
“We have recovered quite well and we continue to improve.”
This season has demonstrated Haas’ financial limitations, with the team only introducing one major upgrade package in 2022.
On top of that, other F1 teams have developed much larger infrastructure than Haas, further complicating their development efforts.
These realities are not intended to minimize or undermine Haas, a team more than capable of competing against more established teams despite their lesser resources.
Instead, he points to the boost this new sponsorship offers Haas – whose dismissal of Nikita Mazepin in pre-season looks like an increasingly cautious move.
A larger investment doesn’t guarantee success for Haas, but it does allow the team to be more aggressive in their decision-making and relieves some pressure on team leader Gene Haas to spend on the crew.
As a team in constant competition for points, Haas will seek to make their participation in the sport more sustainable and – ideally – more profitable.
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