F1 Rumour: Haas Team In Turmoil With Ownership Disputes

It has been reported that Haas team principal Guenther Steiner and team owner Gene Haas are butting heads over an agreement made in 2016.

In an unfolding drama in Formula 1, Haas team chief Guenther Steiner is reportedly at odds with team founder, Gene Haas, over the team's ownership. 

According to recent reports from BusinessF1 Magazine, central to the dispute is Steiner's claim from an alleged 2016 agreement, where he asserts, “I think it has to be my passion project. I started this team. I went out and found an investor.” Steiner believes he was promised a 50% stake in the F1 division, a claim that Gene Haas disputes.

This disagreement has significant financial ramifications. With the Haas F1 Team's valuation circling around $900 million, should Steiner's claim prove true, he could potentially miss out on an estimated eye-watering $450 million in the event of a team sale. His motivation to legally secure his claim might be influenced by such substantial financial prospects.

Despite the brewing contention, Steiner has stated his positive association with Gene Haas, emphasising his pivotal role in establishing the Haas F1 Team. However, the matter of ownership now casts a shadow over their collaboration.

Adding intrigue to the situation, the Haas F1 Team has witnessed a consistent rise in its valuation. As the team edges closer to the billion-dollar mark, Steiner's push for ownership rights becomes more pressing. In light of potential acquisition interests, Steiner revealed in an interview, “Every week, we get offers for someone to buy the team. But it’s not for £1! It’s hundreds of millions now. It’s now a good investment and a good thing to have.”

The American team is currently in eighth position in the constructors' standings with eleven points, the same amount as Williams which is currently in tenth position.