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Rich Energy clinches Title Sponsor deal with Haas F1 Team

British energy drink brand Rich Energy has inked a new multi-year deal as Title Sponsor of the Haas Formula One Team.

The deal will go live with the launch of the 2019 F1 World Championship, and will see the team’s livery change from the grey, black and red it has worn for the last three seasons.

“Our partnership with Haas F1 Team ensures we have a prized asset on which to build our global marketing efforts,” said William Storey, chief executive of Rich Energy.

The deal comes after Rich Energy launched a failed bid to acquire the Force India F1 Team earlier this summer.

Rich Energy was interested in buying out financially-stricken Force India, but the team was rescued in July by a consortium led by Canadian billionaire Lawrence Stroll.

Rich Energy is a start-up brand with links to billionaire West Ham United owner and co-chairman David Sullivan.

Earlier this month, Storey announced on LinkedIn that Sullivan had purchased a “significant stake” in Rich Energy.

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The partnership is understood to be a three-season deal, from 2019-20 to 2021-22, and builds on AXA’s existing Global Partner agreement with Liverpool.

The deal is the largest ever sponsorship investment in UK women’s sport and comes less than a year after the league went fully professional in September 2018.

Under the five-year global deal, Oppo will become the first Official Smartphone Partner of The Championships, Wimbledon, as the event is officially known.

US sportswear brand Nike is paying about $7.5m (€6.7m) per year to sponsor China’s League of Legends Pro League (LPL), according to industry sources.