Haas signs Concorde deal bodes well for the team’s return to F1

Haas F1 team boss Günther Steiner says that Formula 1 still works for Gene Haas, the owner of the Haas F1 team.

Steiner and Haas drivers Kevin Magnussen and Romain Grosjean have spent all of the last few months answering questions about the future of the team in Formula 1. Five years later, the team is still aiming for its first podium in the series. The team is ninth in the F1 Constructors’ Championship.

Like all other existing teams, Haas has now signed the new Concorde Agreement 2021-2025 – the contract between the teams and the series that sets out regulations and prize payouts.

“I think Gene looked at it, and Formula One is still a very good tool for getting your brand name out into the world,” Steiner said, referring to Gene Haas’ machine tool company Haas Automation. “It works, otherwise he wouldn’t. He loves the sport too.”

Steiner says that despite the in-depth budget cap and better income distribution, F1 still represents a huge financial obligation for Haas. But he also said the rules of 2022 should make it easier for even small teams to win.

“It will take a while for that to happen, but it’s a big step in the right direction for Formula 1,” said Steiner. “Times change and I think Liberty did a great job adapting to those times and making changes when needed.”

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