Uralkali secures a legal victory, ensuring Haas F1 reimburses the Russian sponsor.
Haas F1’s Former Title Sponsor Wins Legal Battle in Swiss Arbitration Court
Uralkali, a Russian fertilizer giant, had backed driver Nikita Mazepin, who was also ousted, until the onset of the conflict between Russia and Ukraine in early 2022.
The company sought compensation for the terminated sponsorship contract through the Swiss legal system, and on Thursday, the arbitration court agreed that Haas had inappropriately ended the agreement.
“The arbitration established the fact of the contract breach by the team and awarded compensation to Uralkali,” announced Uralkali’s press service.
“Haas was also denied all counterclaims against Uralkali.”
Uralkali continued: “The company expects Haas to promptly fulfill its obligations confirmed by the arbitration court decision. The funds received should be used for the development and modernization of potash fertilizer production.”
Haas F1 is required to reimburse Uralkali approximately 12 million euros according to this ruling.
Haas F1 to Reimburse Russian Sponsor Uralkali
- You may also like>Hamilton Calls for Support for Russell Amid Claims
- Following us on Facebook and Twitter
