North Carolina-based Formula One team Haas have unveiled Rich Energy as their official title sponsor.
The multi-year agreement with the British energy drinks company, which comes into place at the start of the 2019 season, marks Haas’ first title sponsorship deal since joining the Liberty Media-owned motorsport series in 2016. As a result, the team will be known as Rich Energy Haas F1 from the beginning of the next campaign.
As part of the arrangement, the team’s livery will also change from the grey, red and black colours that have adorned the their cars for the last three seasons.
Rich Energy’s decision to sign up with Haas comes with the drink manufacturer having long held an interest in entering the Formula One industry. Earlier this year, the company failed in an attempt to buy out Force India, who were – at the time – faced with financial turmoil. However, the team – now known as Racing Point Force India - have since been acquired by Canadian billionaire Lawrence Stroll.
With the buyout option no longer available, Rich Energy has instead gone down the root of a title sponsorship arrangement.
Company chief executive William Storey attended the US Grand Prix in Austin last weekend, speaking to a range of teams before finalising a contract with Haas.
Haas boss Gunther Steiner said: “Securing a title partner in Rich Energy is another milestone moment in the development of Haas F1 Team.
“We welcome their commitment to us as an organisation, and together we share an ambition to advance further in our respective fields.
“As we have seen already this season, our own continued push for performance has delivered on-track, and I have no doubt that the platform we provide for Rich Energy will translate into equally favourable dividends.”
With just three races to go – in Mexico, Brazil and Abu Dhabi – the team sits fifth in the constructors’ championship, its highest ever Formula One position.