The Haas F1 Team has secured a new title sponsor for 2023, with the US outfit partnering with American P2P payments and money transfer company MoneyGram.
Haas has raced this season without a major sponsor after Russia's invasion of Ukraine back in February forced the team to severe its ties with Russian chemical company Uralkali, which belongs to Dmitry Mazepin, the father of former Haas F1 driver Nikita Mazepin.
The US outfit subsequently increased the presence on its VF-22 of Haas Automation branding as team owner Gene Haas assumed part of the financial shortfall for the 2022 season.
Haas' new multi-year deal with MoneyGram will see the team change its official appellation to MoneyGram Haas F1 Team from 2023.
"We are pleased to welcome an incredible brand like MoneyGram as our new title sponsor," said Gene Haas.
"Since our entrance into the F1 World Championship in 2016, Haas F1 Team has earned a reputation of strength, agility and resilience.
"MoneyGram brings a similar drive to the world of financial services, and we’re ready to work together to maximize results on and off the track."
MoneyGram, the fastest way to send money globally, is teaming up with the fastest sport in the world, and Alex Holmes, the fintech company's CEO says it is "hitting the accelerator" by partnering with Haas.
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"MoneyGram is a different company than it was even five years ago," said Holmes. "We’ve reinvented ourselves into a global leader in the evolution of cross-border payments with our fast-growing digital business and strong culture of fintech innovation – and we’re just getting started.
"We will continue to disrupt ourselves to meet the ever-changing financial needs of consumers, and we’re determined to make sure the world knows it.
"That’s why we’re hitting the accelerator by making our debut into the world of F1 and teaming up with Gene and Haas F1 Team.
"We can’t wait to officially kick off our long-term title sponsorship with Haas F1 Team and start collaborating to create exciting and meaningful customer experiences at the intersection of Fintech and Formula 1. Now let’s get racing!"
Alex Holmes, MoneyGram International Chairman and CEO with Guenther Steiner, Haas F1 Team Prinicipal
As the only American team racing in F1, Haas is taking advantage of the sport's growing popularity in the United States, a country that will host three rounds of the F1 world championship as of next year.
But F1's global calendar also strongly overlaps with MoneyGram's key markets
"Our fans demand speed, and we deliver it, just as MoneyGram does for its customers," said Haas team boss Guenther Steiner.
"MoneyGram is a global leader in fintech and payments and is always setting out to push the boundaries of technology.
"It’s that eagerness for innovation that really drew us to partner with MoneyGram, and we’re confident that we will continue to grow together and reach our full potential."
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