F1 team forced to hand over RACE CAR following court order

Uralkali, the former title sponsor of the Haas F1 team, has confirmed that it has received the full amount owed by the American racing outfit, as well as a race car, as per a ruling by a Swiss court of arbitration.

This development marks the end of a protracted legal dispute between the two parties following Haas' termination of its partnership with Uralkali in early 2022.

F1 HEADLINES: Mercedes confirm driver swap as IMMEDIATE replacement announced ahead of Italian GP

READ MORE: Ricciardo given huge boost as date outlined for Red Bull promotion

In a statement released today, Uralkali announced that it had also taken possession of a Haas race car, which was part of the agreement outlined in the sponsorship contract.

Uralkali confirms Haas payment

The company further noted that, having received the payment in full, it has informed Dutch authorities that Haas' assets, previously under arrest as an interim measure, can now be released.

This clearance allows Haas to remove its equipment from the Netherlands, easing concerns over the team's participation in upcoming races, including the Italian Grand Prix.

"The money returned to Uralkali by the Swiss arbitration and transferred to us by Haas will be used to increase our capacity to ensure stable food supply," the statement read.

This conclusion comes after a tense period for Haas, which saw its assets, including cars and equipment, seized at the Dutch Grand Prix as Uralkali sought to enforce the arbitration ruling.

The dispute originated from Haas' decision to cut ties with Uralkali and Russian driver Nikita Mazepin following the Russian invasion of Ukraine, a move that Uralkali contested through legal channels.

The payment settlement now clears the path for Haas to focus on its F1 campaign, free from the looming threat of asset seizure.

READ MORE: F1 2024 Italian Grand Prix weather forecast - latest today from Monza

Related

Brazilian Grand Prix

F1 team make last-minute driver CHANGE for Brazilian GP

• November 1, 2024 14:57

F1 Social

F1 team announce SHOCK new 'driver' ahead of Brazilian Grand Prix

• October 31, 2024 22:54