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Bailiffs and police are threatening to seize the cars and other assets of Haas F1 Team over outstanding payments.
Russian fertilizer producer Uralkali is partly owned by the oligarch Dmitry Mazepin. If that name sounds familiar, it would be because his son Nikita Mazepin drove in Formula 1 for a single ill-fated season at Haas.
As part of the deal to enable his son to drive at the highest echelon of motorsports, Dmitry offered to sponsor the cash-strapped American outfit in exchange for significant Uralkali branding on the bodywork of their cars.
2021 proved to be a disastrous season for Haas, as they failed to score a single point all year, even with Mick Schumacher completely outclassing the struggling Mazepin the entire campaign.
However, 2022 was looking more successful with the advent of major technical regulation changes and further investment from the Russian billionaire businessman. But the hopes for Mazepin rising up the Championship order came crashing down when the sponsorship deal was cancelled in the wake of Russia’s invasion of Ukraine early in the year.
The issue was, Uralkali had already paid Haas around $13 million in sponsorship for the 2022 Championship. Haas were subsequently ordered to pay back around $9 million of this which it is believed is yet to have been sorted.
Unsurprisingly, Uralkali have been pushing to have their money returned to them ever since. A deadline for July earlier this year has come and gone, and now the multibillion-dollar business have escalated matters by sending the Dutch police over to Haas’ garage at Circuit Zandvoort last Thursday.
Expected consequence
Uralkali have demanded that Haas’ assets, including the cars of Nico Hulkenberg and Kevin Magnussen, be seized to make up the cost of the unpaid debts. Bailiffs have been busy tallying up the value of goods in the team garages to make such preparations.
A company spokesperson confirmed as such in a statement to RacingNews365: “We are aware that Dutch bailiffs, accompanied by police, last night arrived at the Haas paddock and took an inventory of all racing equipment and other property.
“This is the expected consequence of Haas’ refusal to obey the ruling of arbitrage awarding payment and a race car to Uralkali… We are delighted to hear that, following last night’s visit from Dutch authorities, Haas is finally paying attention to the arbitral ruling.”
We’re not disputing it
Haas have also responded and released a statement as follows: “Haas fully intends to pay to Uralkali all amounts due pursuant to the arbitration award, and there is no dispute over the amounts owed.
“Haas has been working with its lawyers to ensure payment will comply with all relevant US, EU, UK and Swiss sanctions and regulations. We will continue working with Uralkali in the coming days to resolve this matter definitively,” it concludes.
Finally, Haas Team Principal Ayo Komatsu was asked about the unfolding situation, to which he responded: “So, obviously, an arbitration ruling was made, and then we accepted it. We’re not disputing it whatsoever.
“And then it’s a complicated process to transfer those funds across, and then we’re working on that, and it’s been taking longer than I would like. But, yes, we are fully focused on making it across as soon as possible,” said Komatsu.
Nevertheless, Haas will continue to prepare for the upcoming Dutch Grand Prix, which commences Sunday 25 August at 14:00 BST (15:00 local time).
Feature Image Credit: @FastestPitstop on X