Will Rich Energy return to Formula 1 in 2022?

Rich Energy founder William Storey has claimed that the energy drinks brand will return to Formula 1 as a sponsor in 2022.

Rich Energy sponsorship on Haas F1 car in 2019.v1

Rich Energy became well-known in the Formula 1 community in 2019, when they became the title sponsor of the Haas F1 Team.

As part of the deal, Haas ran a gold and black livery on its cars to match the branding of a can of Rich Energy. William Storey, the founder of the company, received more than his fair share of media coverage that year.

The partnership didn’t last long, however, with Storey terminating the sponsorship deal in mid-2019, just ahead of that season’s British Grand Prix.

In a statement, Rich Energy said they had terminated their sponsorship of Haas due to poor performance, and it remains unclear if the American racing outfit ever received any payment from the energy drinks company.

Is Rich Energy a legitimate energy drinks company?

Ever since Rich Energy entered Formula 1 as a sponsor, there have been question marks over the company’s legitimacy.

This was primarily due to most fans never having seen a can of Rich Energy in the flesh, and many having trouble ordering their product online (though, it now seems an order can be placed via their website or on Amazon.)

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Further concerns were raised after the company’s financial records revealed that Rich Energy had just £581 in their bank account in 2017.

However, despite all of this, a number of YouTubers and F1 fans have successfully been able to get their hands on a can of Rich Energy, so it seems they are a legitimate energy drinks brand, though it’s difficult to gauge just how large or successful they are.

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Is Rich Energy making a comeback in 2022?

In January 2021, Storey claimed that Rich Energy would be returning to the pinnacle of motorsport, in what he described as “the greatest comeback since Lazarus.”

“F1 incoming. The best energy drink in the world mounting the greatest comeback since Lazarus.  Premium British performance,” Storey wrote in a tweet in early January 2021.

However, several teams that were subsequently approached by Formula1News.co.uk for comment denied holding any sort of sponsorship negotiations with Rich Energy.

Rich Energy CEO William Storey in 2019.v1

The following month, Storey claimed that a “strategic ally” had agreed to purchase a team – and Rich Energy would become their title sponsor for the 2022 season.

“I’m delighted to announce that Rich Energy is coming back to Formula 1,” Storey said in a video message posted on Twitter in February.

“Unfortunately, due to poor performance on and off the track [in 2019], regrettably I had to sack Haas.

“In the last year, we’ve worked incredibly hard to lead a renaissance of Rich Energy worldwide where millions of consumers are trying our drink.

“Since leaving Formula 1 I have worked very diligently to engineer a return and I have noticed that there is actually a new financial reality in Formula 1.

“With terrestrial TV no longer really being prevalent and a paywall of viewers, instead of 10 or 12 million people watching Formula 1 on BBC or ITV, it is actually a few hundred thousand on Sky.

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“Subsequent damage which that has done to sponsorship has meant that there are a number of different teams [in financial trouble]. For example, McLaren have done the sale and lease back of their Woking technology centre, and Williams were in financial problems until they were bailed out by our friends at Dorilton Capital.

“And obviously even Haas have now had to go for pay drivers because of their weak financial position.

“So I’ve been looking for a way in which Rich Energy could return optimally both for us and to help the team that we are going to work with.

“A strategic ally of Rich Energy has agreed to purchase a majority stake in an existing team. We did explore with the new regulations actually entering our own team for 2022, which would be Rich Energy Formula 1 Team.

“But a friend of ours has agreed a deal for a majority stake in a Formula 1 team, and we will become a partner of that team for 2021. Once that acquisition is announced, we will become the title sponsor for 2022.

“I’m really looking forward to competing with our competitors on-track, I’ll be at the first race, March 28, in Bahrain,” he concluded.

However, there is still no indication of Rich Energy being poised to return to Formula 1 as a sponsor this year, so it’s extremely likely the brand won’t grace the grid with its presence this upcoming season.

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