Haas have been cleared to travel to Monza for the Italian Grand Prix after a £6.8million ($9m) refund payment was received by former title sponsor Uralkali.
The Russian potash fertiliser company played a major role in bringing Nikita Mazepin into the sport in 2021, but when the invasion of Ukraine took place, Haas terminated the partnership but refused to hand back the sponsorship payments.
After a Swiss arbitration court hearing went against Haas, the North Carolina-based team were instructed to refund a large chunk of the up-front payment made by Uralkali for Haas’ title sponsorship rights in 2022.
This payment had not been made ahead of the Dutch Grand Prix, triggering Uralkali to send in bailiffs on Thursday to take stock. A payment was then sent, but due to banking delays over the bank holiday weekend, it was not received by the end of play on Sunday.
However, on Monday, Uralkali released a statement confirming that full payment had been received, freeing up Haas to depart the Zandvoort paddock and travel to Monza in time for the Italian GP.
“Uralkali confirms that we have received in full the payment owed by Haas (including interest and fees) following the ruling of the Swiss court of arbitration,” read the statement. “We have also collected the race car owed to us under the terms of the sponsorship agreement.
“As such, Uralkali has notified Dutch authorities that they may release Haas’ assets from arrest as an interim measure, and Haas is free to take them out of the Netherlands.”
Haas also released a statement, noting: “Uralkali have now confirmed receipt of last Friday’s financial transfer and therefore our trucks have been given clearance to depart The Netherlands and make their way to Italy immediately.”
Missing the Italian GP would have been disastrous for the team, who continue to hunt down VCARB in the battle for P7 in the Constructors’ Championship. The two teams are separated by seven points with nine races remaining.