F1 News: Why Haas's new sponsor is a game changer

Haas will have more to play with.

The financial demands of Formula 1 have consistently proven a limiting factor for Haas and its progress since arriving in the sport in 2016. 

Whilst the newly implemented budget cap has helped close the gap to the spending of F1's top teams, Haas is still spending below the budget cap - a clear indication of their limited monetary resources. 

However, this will change from next season, with Haas announcing a new multi-year agreement with MoneyGram as the team's new title sponsor from 2023 onwards.

Guenther Steiner - as quoted by Autosport - has explained the significance of MoneyGram's support:

"I always say with the budget cap, in the mid to long-term, there shouldn't be this problem anymore that you cannot fight for podiums. And this is what we want to do.

"With this deal, I think we can make that step that in a few years [so], we can fight for podiums.

"I'm not promising [podiums] for next year because we just came back from two years that were very bad for us. 

"We recovered pretty well, and we continue to improve."

This season has demonstrated the financial limitations at Haas, with the team only introducing one major upgrade package in 2022.

In addition to this, other outfits in F1 have developed far more significant infrastructure than Haas, which further complicates their efforts for development. 

These realities are not meant to slight or undermine Haas, a team more than capable of competing amongst more established teams despite its lesser resources. 

Instead, it emphasises the boost this new sponsorship offers Haas - whose dismissal of Nikita Mazepin in pre-season is looking like an increasingly prudent decision.

Greater investment does not guarantee success for Haas, but it allows the team to be more aggressive in its decision-making and relieves some pressure on team boss Gene Haas to spend on the team. 

As a team competing consistently for points, Haas will look to make its participation in the sport more sustainable and - ideally - more profitable.