Sports News | Haas F1 Team''s Arbitration Proceeding with Former Russian Sponsor Uralkali Concludes

Kannapolis (US), Jun 23 (AP) Haas' arbitration proceeding in a Swiss court with former sponsor Uralkali has concluded, the Formula One team said Sunday.

The American racing team terminated its deal with Uralkali, a Russian fertilizer maker, in March 2022 following Russia's invasion of Ukraine.

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According to a statement issued by Haas, the Swiss arbitrators ruled that the F1 team can keep the portion of the sponsorship fee up until March 2022 and refund the portion corresponding to the period after the deal ended.

Haas broke with Uralkali at the same time it dropped Russian driver Nikita Mazepin, whose father is the owner of Uralkali. Dmitry Mazepin is a close ally of Russian President Vladimir Putin and his son's contract to drive was linked to the team sponsorship. (AP)

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)