News Details
Haas settles financial dispute with Uralkali, avoids seizure of assets
©Haas Phillip van Osten
25/08/2024 at 16:2425/08/2024 at 17:15 Haas has successfully resolved its ongoing financial dispute with former sponsor Uralkali, averting a potential seizure of its assets at the Dutch Grand Prix. The dispute arose after Haas terminated its sponsorship agreement with Uralkali in 2022, following Russia's invasion of Ukraine. The fertilizer giant, owned by Dimitry Mazepin, had sought to recover a portion of the sponsorship payments made for the 2022 season. A Swiss arbitration Court upheld Haas’s right to terminate the sponsorship agreement but ruled that the US outfit must return a portion of the sponsorship payment, specifically the amount that was applicable...
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