Swiss Court Rules in Haas' Favor in Uralkali Sponsorship Dispute

Haas' arbitration case against its former sponsor Uralkali concluded in a Swiss court. The decision permits the F1 team to retain the sponsorship fee up to March 2022. The dispute arose after Haas terminated its deal with the Russian company following the Ukraine invasion.

PTI | Kannapolis | Updated: 23-06-2024 15:56 IST | Created: 23-06-2024 15:56 IST
Swiss Court Rules in Haas' Favor in Uralkali Sponsorship Dispute
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Haas' arbitration proceeding in a Swiss court with former sponsor Uralkali has concluded, the Formula One team said Sunday.

The American racing team terminated its deal with Uralkali, a Russian fertilizer maker, in March 2022 following Russia's invasion of Ukraine. This termination also coincided with the dropping of Russian driver Nikita Mazepin, son of Uralkali owner Dmitry Mazepin, a close ally of Russian President Vladimir Putin. Nikita's contract was intertwined with Uralkali's sponsorship deal.

According to a statement issued by Haas, the Swiss arbitrators ruled that the F1 team could keep the sponsorship fee portion up until March 2022, while refunding the portion that corresponded to the period after the deal was ended.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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