Rich Energy investors don't want to end contract with Haas F1 despite tweet
F1 News
On Wednesday, Rich Energy posted a blunt tweet which suggested they had terminated their contract with Haas Formula 1 team. However, 12 hours on and the energy drinks company shareholders wish to continue their deal with the American team.
The tweet, which hasn't been deleted, is believed to have been written or at least authorised by Rich Energy's CEO Williams Storey. The investors didn't know the information was going to be released to the public. There are rumours of a disagreement between the CEO and shareholders. This is according to Autosport.
Today @rich_energy terminated our contract with @HaasF1Team for poor performance. We aim to beat @redbullracing & being behind @WilliamsRacing in Austria is unacceptable. The politics and PC attitude in @F1 is also inhibiting our business. We wish the team well #F1 #richenergy pic.twitter.com/9mAt2dOnYu
— Rich Energy (@rich_energy) 10 juli 2019
This morning, Guenther Steiner confirmed that he believes Rich Energy is still the team's title sponsor going into the British Grand Prix weekend.
“Rich Energy is currently the title partner of Haas F1 Team. I cannot comment further on the contractual relationship between our two parties due to commercial confidentiality.” – Guenther Steiner, Team Principal pic.twitter.com/egSltgGnAO
— Haas F1 Team (@HaasF1Team) 11 juli 2019
Rich Energy logos and name hasn't been removed from the Haas motorhomes at Silverstone circuit. Following the news, a source told Autosport the following statement.
"The deal is not terminated and William [Storey] has no authority to do so. The investors are trying to clear up the PR mess, but it's business as usual."
At the start of the 2019 Formula 1 season, Rich Energy described Haas as having the "best business model in the sport." Their logo was removed from the car due to a copyright issue with a bikes company.