Gene Haas: 'Pay driver business model doesn't make sense'

Team owner Gene Haas believes his team is better off steering clear of a 'pay driver' model , at least for now.

The Haas F1 Team featured Esteban Gutierrez in its line-up during its maiden F1 season as the Mexican enjoyed lavish sponsorship from his backers.

Haas chose not to retain Gutierrez however, and hired Kevin Magnussen to race this year alongside Romain Grosjean.

The US outfit could have perhaps accommodated technical partner Ferrari by taking on one of its junior drivers for 2018 as the Scuderia seeks to promote Antonio Giovinazzi and Charles Leclerc.

Haas confirmed however both Grosjean and Magnussen for next year, although Gene Haas insisted he wasn't ruling out a return to a 'pay driver' scheme in the future.

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"No, I don't think we rule it out. But for a business model it doesn't really make a lot of sense," said the American.

"It's no secret that it costs $60m to put a car on the track for the season, and if someone - not just Ferrari - gives you a driver and they're going to pay you $5 or $6 million, there's a $55m deficit there.

"I think our point of view has always been that we need to score points and that's how we make money moving forward. So that's our business model," Haas added.

"I think Ferrari respects that. Based on that, if there's some mutual agreement we could come to, we probably would be more open to it," he said.

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Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.