- MoneyGram is in year one of five-year title sponsorship
- Digital payments provider's CMO Greg Hall says company would “fully welcome” Alfa Romeo as team sponsor
Haas Formula One team principal Günther Steiner has revealed to BlackBook Motorsport that there is “no intention to change the [Haas] team name” amid rumours of a partnership with Alfa Romeo.
Reports surfaced last week that Alfa Romeo was exploring Haas as an option to remain in Formula One, with a deal worth ‘US$20 million per year’ mooted by RacingNews365.
Autosport later revealed that discussions between Steiner and Alfa Romeo chief executive Jean-Philippe Imparato had taken place at the Monaco Grand Prix, but that no concrete offer has been made as of yet.
Speaking exclusively to BlackBook Motorsport, Steiner suggested that, if any agreement was reached with Alfa Romeo, it would not be similar to the Italian marque’s current naming rights deal with Sauber Motorsport.
“We have no intention to change the team name,” he told BlackBook Motorsport. “Haas will stay Haas, and MoneyGram will be the title sponsor.”
At the end of last season, the US team signed a five-year deal with MoneyGram worth a reported US$20 million per year, which also complicates any potential tie-up with Alfa Romeo.
“[Günther Steiner] acknowledges we are the sole title sponsor for the next five years,” Greg Hall, chief marketing officer of MoneyGram, told BlackBook Motorsport. “If Alfa Romeo wants to join, we’d fully welcome that. They would be a proud sponsor of the MoneyGram Haas F1 Team.”
He added: “I think Günther and I are aligned on how we’re thinking about it, and what may possibly happen or what may not possibly happen.”
That stance was further reiterated by Haas’ director of marketing Mark Morrell, who revealed: “MoneyGram Haas F1 Team will be the team name and MoneyGram will be our title partner.”
BlackBook says…
Conversations between Haas and Alfa Romeo might be ongoing, but this confirms that the Italian brand is unlikely to receive the same level of visibility in Formula One once its deal with Sauber expires at the end of this season.
The Swiss team is embarking on a new partnership with German brand Audi, which is set to own 50 per cent of the team by next season, and there are few options for Alfa Romeo to replicate a similar deal.
The company’s best hope appears to be a tier below a title sponsorship deal. Aston Martin have shown that combining two title sponsors is possible in Formula One through their deals with Cognizant and Aramco.
Still, it is unknown whether there are any clauses in MoneyGram’s contract that allow for shared title sponsorship, and Hall was clear that MoneyGram will be the exclusive title sponsor of the team during its five-year agreement.