Rich Energy has claimed that it has terminated its title sponsorship with the Haas F1 Team, citing a recent lack of results from the operation.
Haas, which joined Formula 1 in 2016, placed fifth in last year’s Constructors’ Championship and signed the energy drink company as a title sponsor for the 2019 season.
But Rich Energy’s time in Formula 1 has been plagued by suspicions and controversy, with the company having recently lost a court case over the use of its stag logo.
It has been ordered by the United Kingdom’s High Court to disclose its finances while the logo must be removed from all of its products by July 18.
Haas removed the stag-inspired logo from its cars ahead of the Canadian Grand Prix though continued to use the Rich Energy name and its gold-and-black livery at the subsequent grands prix.
On Wednesday evening Rich Energy took to Twitter to reveal it had terminated its title sponsorship.
“Today Rich Energy terminated our contract with Haas F1 Team for poor performance,” read the tweet from its official account.
“We aim to beat Red Bull Racing and being behind Williams in Austria is unacceptable. The politics and PC attitude in F1 is also inhibiting our business. We wish the team well.”
Motorsport Week has contacted Haas F1 Team for a formal response.
Rich Energy was still present on the Haas motorhome in the Silverstone paddock on Wednesday.
Haas currently holds ninth place in the Constructors' Championship.
