Arbitration panel rules in Haas court battle with Mazepin sponsor Uralkali

  • 📰 Motorsport
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 86%

Law Law Headlines News

Law Law Latest News,Law Law Headlines

Ruling ends dispute over $13 million Formula 1 sponsorship deal and compensation claim following Nikita Mazepin’s axing from Haas

The Swiss arbitration court mediating the dispute between the Haas Formula 1 team and Uralkali over the former's decision to end their sponsorship agreement following Russia's 2022 Ukraine invasion has issued a ruling. The two sides had been in dispute since March 2022, when it was announced Nikita Mazepin had been let go from the team where he had raced for the previous season and to which his father's fertiliser company had been the title sponsor.

Nikita Mazepin, Haas F1 Team Photo by: Carl Bingham / Motorsport Images Then on Sunday, Haas released a statement saying 'the arbitration panel ruled that Haas had 'just cause' to terminate its sponsorship contract with Uralkali, and denied Uralkali's claims for breach of contract'. The statement added: 'Haas terminated its agreement with Uralkali on 4 March 2022, shortly after Russian military forces invaded Ukraine.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 11. in LAW

Law Law Latest News, Law Law Headlines