Ex-Haas title sponsor Uralkali has confirmed it has received payment from the American F1 team, ending the dispute that took place during the Dutch Grand Prix weekend.
Uralkali was dropped as Haas' title sponsor prior to the start of the 2022 season after Russia's invasion of Ukraine, however much of the money for the season had already been paid to Haas.
At the Zandvoort event, bailiffs entered the circuit to seize Haas equipment as it sought a $12 million repayment following a ruling from a Swiss arbitrator earlier this year.
Complications surrounding money transfer arose during the weekend, with Haas' equipment unable to leave the Netherlands on Sunday evening after the race.
Haas detailed the payment was made on Friday and Uralkali has now confirmed the money has been received, as well as a 2021 Haas car.
As a result, Haas' trucks carrying all of its racing apparatus are now free to leave the country and travel to Monza for the Italian Grand Prix this weekend.
“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 a statement from Uralkali.
“We have also collected the race car owed to us with 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.
“The money returned to Uralkali by the Swiss arbitration and transferred to us by Haas will be used to increase our capacity to ensure stable food supply.”
Most read
In this article
Join the conversation!