After failed Force India takeover, Rich Energy acquires Haas F1 title rights

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Keeping up with the hopes of associating itself with Formula 1, British energy drink brand Rich Energy has inked a multi-year deal to become the title sponsor of Haas F1 team following a failed attempt to acquire Force India.

The partnership, which will kick-off with 2019 FIA Formula One World Championship, will result in a significant livery change to incorporate the colours of Rich Energy, while the team name will become Rich Energy Haas F1 Team.

Rich Energy, with its presence in over 30 countries, will utilize its partnership with Haas F1 Team as the cynosure of its marketing campaign, exploiting the global platform offered by Formula 1 to increase its market share in the competitive energy drink sector.

The team’s livery will also change from the grey, red and black colours that have adorned their cars for the last three seasons.

The brand’s decision to strike a title deal with Haas F1 comes after a longing desire to join the pinnacle of the motorsports industry. The company went full gear earlier this year in an attempt to acquire financial sick Force India that went into administration following court orders.

The team, now known as Racing Point Force India, has since been acquired by Canadian billionaire Lawrence Stroll who pulled the team out of the administration with massive investments.

Also Read: Rich Energy set to acquire Sahara Force India F1 team for $280 m

Rich Energy CEO William Storey attended the US Grand Prix in Austin last weekend, speaking to a range of teams before finalising a contract with Haas.

“We are delighted to become the official title partner of Haas F1 Team in Formula One,” Storey has said. “Our companies share a synergy in our work ethos, and our desire to bring something new to the table in an environment made up of established brands.”

“We revel in competition, and through our distinctive collaboration, we’re looking to further prosper, delivering an exciting concept for the promotion of Rich Energy to the consumer along the way. Formula 1 is a premium product in its own right, and our partnership with Haas F1 Team ensures we have a prized asset on which to build our global marketing efforts,” he added further.

Guenther Steiner, Team Principal, Haas F1 Team, 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 organization, and together we share an ambition to advance further in our respective fields.”

“It’s going to be exciting for us as a team to be the focal point of Rich Energy’s marketing endeavours, as we go into both new and existing consumer markets around the world in Formula One. 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.”

Also Read: Force India gets $118 million in Formula 1 team deal

Haas F1 Team sits fifth overall in the constructors’ standings, with the third-year American team recording 84 points on the season with three races remaining. It will head into the 2019 Formula One World Championship with continuity in its driver line-up with Romain Grosjean and Kevin Magnussen paired together for a third consecutive year.