The Haas F1 team and Racing Point have finally settled their dispute surrounding the prize money which the latter received for the 2018 Formula One season.
Following Lawrence Stroll’s acquisition of the Force India F1 team during the 2018 season and its subsequent rebrand to Racing Point, the team’s points in the Constructors’ Championship were wiped out.
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However, as the rebranded team was classified as a continuation of Force India’s entry for the 2018 season, it still received its share of Formula One’s “Column One” prize money for that year.
Haas argued that Racing Point should have been considered a new team and thus not eligible to be paid a share of the prize money, as was the case for Haas when they had their debut F1 season a couple of years prior.
The dispute had been ongoing since 2018, but the team principals of both constructors have now confirmed that a settlement has been reached.
“We’re pleased that it’s come to a conclusion and now the entire team can focus on what we’re here to do and entertain the fans. We’re happy it’s behind us,” Racing Point CEO and team principal Otmar Szafnauer said ahead of this weekend’s Tuscan Grand Prix.
He provided no details on the settlement that was reached, so it’s unclear if the team has had to return the “Column One” prize money it received in 2018.
The Silverstone-based team will be rebranded Aston Martin Racing for the 2021 season.
They recently announced that four-time World Champion Sebastian Vettel will partner Lance Stroll from next year.
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