Haas has secured a new title sponsor from 2023 onwards, with the global money transfer company MoneyGram entering into a multi-year agreement.
The team will officially be known as MoneyGram Haas F1 Team and will have a new livery inspired by its title sponsor, when the partnership comes into effect next season. MoneyGram chairman and CEO Alex Holmes says entering F1 provides a platform that reaches internationally in order to promote the company’s message.
“MoneyGram is a different company than it was even five years ago. We’ve re-invented 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,” Holmes said. “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 F1 and teaming up with Gene and Haas F1 Team.”
Haas team founder and chairman Gene Haas says there are similarities in the approaches of the two companies that make it a particularly attractive partnership.
“We are pleased to welcome an incredible brand like MoneyGram as our new title sponsor,” Haas said. “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.”
Haas has been open to finding a new title partner since dropping Uralkali sponsorship earlier this season following Russia’s invasion of Ukraine, and prior to that had endured a tumultuous spell with Rich Energy. However, with MoneyGram estimating the countries on the 2023 F1 calendar account for nearly 80% of its transaction value, its chief marketing officer Greg Hall sees long-term potential.
“With this bold new initiative, we are meeting our customers as well as potential new customers where they are,” Hall said. “Next year’s racing calendar has a uniquely strong overlap with MoneyGram key markets, so we are excited to unlock new channels to hear from our customers and understand their specific needs.
“As we look to capture growth from new customer segments, we’re also looking forward to the endless opportunities this sponsorship will bring for additional exposure to a broader consumer base.”
