Haas F1 Team Reveals New Title Sponsor in Multiyear Deal

• MoneyGram is a company that specializes in digital P2P payments.

• The partnership was announced ahead of this weekend’s United States Grand Prix at Austin’s Circuit of the Americas.

• The new deal will take effect beginning with the 2023 season.

The Haas F1 Team has secured MoneyGram as its new title sponsor in Formula 1 in a multi-year deal.

The partnership was announced ahead of this weekend’s United States Grand Prix at Austin’s Circuit of the Americas. The new deal will take effect beginning with the 2023 season and is set to result in a rebrand of Haas’ car livery.

MoneyGram is a company that specializes in digital P2P payments.

“We are pleased to welcome an incredible brand like MoneyGram as our new title sponsor,” said Gene Haas, founder and chairman of Haas F1 Team. “Since our entrance into the F1 World Championship in 2016, Haas F1 Team has earned a reputation of strength, agility and resilience. MoneyGram brings a similar drive to the world of financial services, and we’re ready to work together to maximize results on and off the track.”

Haas is eighth of the 10 teams in this year’s Constructors’ Championship with 34 points scored. Formula 1 has expanded in the United States in recent years with 440,000 spectators expected across the weekend at this week's race at Circuit of the Americas in Austin, Texas, an increase on last season’s 400,000.

A third event will be held in the country in 2023, with Las Vegas joining Austin and 2022 debutant Miami.

MoneyGram will be Haas’ first title sponsor based out of the United States.

“MoneyGram is a different company than it was even five years ago,” said MoneyGram chairman and CEO Alex Holmes. “We’ve reinvented ourselves into a global leader in the evolution of cross-border payments with our fast-growing digital business and strong culture of fintech innovation—and we’re just getting started. We will continue to disrupt ourselves to meet the ever-changing financial needs of consumers, and we’re determined to make sure the world knows it. That’s why we’re hitting the accelerator by making our debut into the world of F1 and teaming up with Gene and Haas F1 Team.”

Haas will be hoping for a more prosperous title partnership with MoneyGram compared to its predecessors.

Its first title partner, Rich Energy, lasted only half a season in 2019 while its planned multi-year agreement with Uralkali was severed this March following Russia’s invasion of Ukraine.

Haas has yet to reveal its full driver lineup for the 2023 season. Kevin Magnussen will remain on a multi-year deal but the future of Mick Schumacher remains uncertain amid Haas’ interest in veteran Nico Hulkenberg.