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Haas, Rich Energy end title sponsorship deal

US Formula One motor-racing team Haas has today (Monday) announced that its title sponsorship deal with British energy drinks brand Rich Energy has been terminated with immediate effect.

The decision was described as an “amicable agreement” and brings to an end a two-month period in which Haas has been at the centre of a high-profile ownership battle at Rich Energy.

In October, Rich Energy inked a multi-year deal with Haas. The deal commenced with the 2019 F1 season, with the team’s livery changing from the grey, black and red it has worn for the last three seasons to a black and gold design.

However, a tweet posted on the official Rich Energy Twitter feed in July announcing the termination of the deal sparked weeks of uncertainty over the status of the contract.

In a statement released by Haas today, the team said: “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.”