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Formula One Grand Prix in Sochi

Uralkali to request reimbursement of sponsorship funding for 2022 received by Haas

The plan is to use the refund from Haas and the remaining part of Uralkali's sponsor financing for 2022 to establish the ‘We Compete As One’ athlete support foundation

MOSCOW, March 9. /TASS/. Uralkali intends to request the immediate reimbursement of the sponsorship funding received by FIA Formula One Team Haas, which has cancelled the sponsorship contract with its Russian racer Nikita Mazepin, Russia’s potassium producer said in a statement on Wednesday.

"Uralkali, the title sponsor of Uralkali Haas F1 Team, announces that it was advised by the Team of their unilateral termination of the sponsorship agreement with Uralkali due to the current geopolitical situation," the statement said. It was reported last week that Haas had cancelled the contract with Russia’s racer Nikita Mazepin, as well as its title sponsorship deal with Uralkali.

"Uralkali intends to protect its interests in line with applicable legal procedures and reserves its rights to initiate judicial proceedings, claim damages and seek repayment of the significant amounts Uralkali had paid for the 2022 Formula One season. As most of the sponsorship funding for the 2022 season has already been transferred to Haas and given that the Team terminated the sponsorship agreement before the first race of the 2022 season, Haas has thus failed to perform its obligations to Uralkali for this year's season. Uralkali shall request the immediate reimbursement of the amounts received by Haas," the company said.

The plan is to use the refund from Haas and the remaining part of Uralkali's sponsor financing for 2022 to establish the ‘We Compete As One’ athlete support foundation, Uralkali added.

"Uralkali has been for many years contributing considerably towards global food security and providing significant assistance to a whole range of sports associations, organizations and events both in Russia and abroad. The Company views the Team’s decision as unreasonable and believes that sports should always be free of politics and pressure from external factors," the statement said.

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