- MoneyGram CEO says Steiner has “star effect” and his genuine nature was why the brand opted for Haas over other teams
- Payments provider has a five-year deal reportedly worth US$20m per season
MoneyGram chief executive, Alex Holmes, has hailed the impact of Haas team principal Gunther Steiner in making a success of the US-based payments provider’s title partnership with the Formula One racing outfit.
MoneyGram was confirmed as the team’s new title sponsor in 2022, with the deal reportedly worth US$20 million per season. Earlier this year, it confirmed to Blackbook Motorsport that the agreement was in place for five years.
A key asset to that partnership is Steiner. The Italian not only played a role in agreeing the deal, but with Steiner’s profile having risen quickly among fans, thanks in part to his contributions to the Netflix-produced ‘Drive to Survive’ docuseries, he has become an asset in marketing activations.
Typically, as title sponsor, MoneyGram would look to leverage the profile of the Haas drivers in marketing efforts, but thanks to his enigmatic personality, Steiner has a role to play here too.
“We had seen that effect of Gunther when we first met and we went out to dinner,” Holmes told Motorsport.com. “People were coming up to the table in the middle of dinner and wanting a photo, and they were just giddy to see him. He’s so funny, so genuine. He’s like, ‘I don’t know what’s going on’.
“To see that star effect that he has, and how that comes across, that’s who he is. I think that genuineness really shows through.
“For us to also be able to attach our brand to his is very special.”
MoneyGram chief marketing officer, Greg Hall, said that Formula One’s “global reach”, as well as the similarities between the sport and the company’s brand attributes, as key reasons why it jumped at the chance to sponsor a team in the motorsport series.
“We want to sustain momentum, we want to build on it, keep it going,” added Holmes. “We did ICC cricket, we’ve done local soccer teams, football teams in Europe. But this is different.
“Every race that we’re attending, everything that we’re doing, whether it’s more corporate focused, or consumer focused, we’re learning.
“I really do think the first year is a learning year, and we definitely built that into the plan as well. This is a multi-year focus for us.”