AUSTIN, Texas — The Haas F1 Team, the only U.S.-based Formula 1, team announced it has signed a primary sponsorship agreement with MoneyGram International.
The team will be rebranded as the MoneyGram Haas F1 Team prior to the 2023 season. MoneyGram, which is a leader in digital P2P payments, signed a long-term agreement with the team.
“We are pleased to welcome such an incredible brand like MoneyGram as our new title sponsor,” said Gene Haas, founder and chairman of Haas F1 Team. “Since our entrance into the F1 World Championship in 2016, Haas F1 Team has earned a reputation of strength, agility and resilience. MoneyGram brings a similar drive to the world of financial services and we’re ready to work together to maximize results on and off the track.”
The two organizations have signed a multiyear agreement for MoneyGram to become the lead partner of Haas F1 Team. The new team name will officially take effect in 2023. In addition, the new team cars with rebranded livery will be unveiled ahead of next year’s season.
“MoneyGram is a different company than it was even five years ago. We’ve reinvented ourselves into a global leader in the evolution of cross-border payments with our fast-growing digital business and strong culture of fintech innovation – and we’re just getting started,” said Alex Holmes, MoneyGram chairman and CEO. “We will continue to disrupt ourselves to meet the ever-changing financial needs of consumers, and we’re determined to make sure the world knows it. That’s why we’re hitting the accelerator by making our debut into the world of F-1 and teaming up with Gene and Haas F1 Team.”
Guenther Steiner is team principal for the Haas F1 Team.
“Our fans demand speed, and we deliver it, just as MoneyGram does for its customers,” said Guenther Steiner, Team Principal of Haas F1 Team. “MoneyGram is a global leader in fintech and payments and is always setting out to push the boundaries of technology. It’s that eagerness for innovation that really drew us to partner with MoneyGram, and we’re confident that we will continue to grow together and reach our full potential.”
Kevin Magnussen and Mick Schumacher are the current drivers for the Haas F1 Team.
A press conference will be held later today at Circuit of the Americas, which is hosting this weekend’s U.S. Grand Prix.