Haas’ payment dispute with former sponsor Uralkali has been resolved after the company confirmed receipt of funds, freeing the team to travel from Zandvoort to Monza.
The Russian company, which was Haas’ title sponsor in 2021, made a bid to seize the squad’s assets – including cars and equipment – via the Dutch courts on Thursday.
This came after Uralkali claimed the team had missed a deadline in July to make payment of a part-refund of a fee for sponsorship, an agreement the team cancelled on the eve of the 2022 Formula 1 season amid the Russian invasion of Ukraine.
Whilst Swiss arbitration courts ruled that Haas were within its right to withdraw the sponsorship, it also ordered Haas to pay back what is believed to be around two-thirds of the $13 million fee.
Dutch bailiffs and police arrived at Zandvoort on Thursday to inform Haas of Uralkali’s legal bid, and whilst the team were allowed to participate in the race, it was agreed that the its assets were not allowed to leave the Netherlands until the payment was received.
Haas has now confirmed that Uralkali has confirmed receipt of Friday’s financial transfer and its trucks have been given clearance to leave the Netherlands to travel to Italy for this weekend’s event at Monza.
Uralkali also confirmed the development on Monday afternoon.
“Uralkali confirms that we have received in full the payment owed by Haas (including interest and fees) following the ruling of the Swiss court of arbitration. We have also collected the race car owed to us under the terms of the sponsorship agreement.
“As such, Uralkali has notified Dutch authorities that they may release Haas’ assets from arrest as an interim measure, and Haas is free to take them out of the Netherlands.”
