For a smaller team like Haas, resources are crucial to not only their success, but to their existence in Formula 1.
In order to save money and prepare for the new regulations that came into effect in 2022 the team appointed two rookie drivers in 2021, in the form of Mick Schumacher and Nikita Mazepin.
The team finished last in the championship with both of their drivers costing them millions of dollars in repairs, leaving Haas struggling for money going into the new era of Formula 1.
Their situation was not helped by Russia’s invasion of Ukraine at the start of 2022, as this forced Haas to cut ties with their title sponsor Uralkali and driver Nikita Mazepin, as tensions grew towards Russia.
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This left the team with only a single driver and no title sponsor and while Kevin Magnussen was quickly drafted into the team to replace Mazepin, a title sponsor was not found until the latter stages of the season.
The team’s home Grand Prix in Austin came with the announcement that Haas had partnered with US money transfer company MoneyGram, who would become the team’s new title sponsor for 2023.
Going into next season the team have now announced that their name and logo will change to suit their new sponsor, with the team now being known as MoneyGram Haas F1 Team.
The MoneyGram logo can now be seen as a part of Haas’ logo, with the company’s name also being displayed just below the new-look logo.
Team principal Guenther Steiner has claimed that the new partnership will be a “big game changer” for Haas, suggesting that MoneyGram have seen the potential in his Haas team.
“I think a lot of people like underdogs, a lot of people like what we are doing,” said Steiner.
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“MoneyGram, they see it coming. They are a global company based in American, but in 90 percent of their markets, they have F1 races.
“So for them, it’s a very good tool to market their company. Otherwise they wouldn’t do it. They don’t do it just for fun, because it’s a lot of money, you know?”
Unlike their 2021 approach, Steiner’s team have opted to rely on experience rather than potential this year, bringing in 35-year-old Nico Hulkenberg to replace Mick Schumacher, who has now taken up a test driver role with Mercedes.