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Haas terminates Uralkali partnership

NEWS STORY
05/03/2022

Haas has terminated its partnership with Russian potash giant Uralkali with immediate effect, whilst also dropping driver, Nikita Mazepin.

The American team made the announcement this morning in a brief statement.

"Haas F1 Team has elected to terminate, with immediate effect, the title partnership of Uralkali, and the driver contract of Nikita Mazepin.

"As with the rest of the Formula 1 community, the team is shocked and saddened by the invasion of Ukraine and wishes for a swift and peaceful end to the conflict."

While the FIA offered a glimmer of hope for the Russian to continue racing, calling on him - and other Russian and Belarusian competitors - to sign a document in which he, among other things, denounced his country's invasion of Ukraine, the outcome was inevitable as Haas was never going to be able to continue its partnership with Uralkali which effectively paid for his seat.

While Haas hasn't confirmed who will replace Mazepin - or indeed Uralkali - last week team boss, Guenther Steiner was adamant that Pietro Fittipaldi would step into the seat.

Going forward however, the big question has to be how Haas will make up for the lost funding it was receiving from Uralkali.

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READERS COMMENTS

 

1. Posted by ffracer, 08/03/2022 1:50

"Thank you for the report, just eye opening figures for potash. Canada suffered a "Mission Impossible"/scale scare when they sold a potash corp to another national consortium years ago... enough said.

Potash aside, I truly feel for this team and genuinely hope that their luck changes real soon. Regardless of where to apportion blame, sensational sponsor losses, the constant plummet in the standings and all the Steiner drama for the last few years could call time on this team. Last year's call to run no development cars as the team and it's rookie drivers looked like a good concept but I wonder what the total crash damage bill was... just massive crashes. A real shame as this team had an amazing first year and has given many young hopefuls a real chance to shine (not just limited to testing). Above all, Gene Haas is a brilliant businessman and a true racer at heart, his passion deserves much better before his patience runs out. "

Rating: Negative (-1)     Rate comment: Positive | NegativeReport this comment

2. Posted by Great_white_shark, 07/03/2022 22:17

"The Karens and the Cancel-Culture minions won another round. Makes them feel a sense of accomplishment in their otherwise meaningless lives when their Tweets are getting noticed. Congratulations to all the Karens, as long as you're honest with yourselves and you are aware of just how hypocritical you are "

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3. Posted by alvarezh3, 06/03/2022 16:13

"Thank you for that report.

It's good news for the world that food production is quickly reaching back to pre-pandemic levels. But, I will add that it has been reported that Brazil has encountered tougher drought conditions than previous years, even after devastating floods in other parts of the country. (Brazil is the 5th largest nation by area, the Aussies own the 6th).

As you stated, let's wait for the 2022 figures."

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4. Posted by Editor, 06/03/2022 8:51

"Interestingly, financial released by Uralkali only yesterday reveal that a $43m loss in 2020 was turned to a $1.7bn profit in 2021.

Demand for potash in North America increased year-on-year on the back of favourable weather conditions in the first half of the year, growing acreage, strong demand during the autumn application season, and favourable prices for grain crops.

In 2021, Brazil was the most active spot market: potash imports at the end of the year broke another record and exceeded 12.7 million tonnes, according to customs statistics, which became possible due to the world crop prices growth, in particular soybeans.

Demand for potash in North America increased year-on-year on the back of favourable weather conditions in the first half of the year, growing acreage, strong demand during the autumn application season, and favourable prices for grain crops.

In the CIS countries, the Middle East and Africa demand for potash was generally stable in 2021. However, in Europe it was influenced by a significant increase in natural gas prices, which limited the demand for potash from NPK producers.

During 2021, against the backdrop of a significant increase in palm oil prices, there was a recovery in potassium chloride demand from its largest consumers in South-East Asia — Indonesia and Malaysia, despite the current restrictions on attracting labour to plantations due to COVID-19.

Due to low contract prices for the supply of potassium chloride to China and India, a number of producers reduced their supply volumes, which led to a sharp decrease in potash import volumes in 2021 compared to the previous year.

The volume of sales of potassium chloride of Uralkali production to the Russian domestic market in 2021 amounted to 2.9 million tonnes, which is 11% higher than in 2020, mainly due to increased sales to NPK producers and the agricultural sector.

According to the Company’s estimates, in 2021 the volume of world potassium chloride deliveries amounted to about 71 million tonnes. It is expected to be around 68-71 million tonnes by the end of 2022, amid high prices and limited supply of potash in the world market.

Will be interesting to see the 2022 figures..."

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5. Posted by Max Noble, 06/03/2022 8:46

"@trackrecords - and so it goes since the tribes of Israel fled Egypt… 5,000 years of simply not getting along. Never forgive, never forget…"

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6. Posted by trackrecords, 05/03/2022 17:44

"Rumour has it that when Putin gets put in the padded cell or his body dumped in the Volga, China will retake the land Russia took off them a century ago. But as recompense they will grab a bit more land: right through all the mineral reserves of Siberia up to the Ural mountains. So Uralkali could soon be Chinese-owned and they could build a team around GYZ..."

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7. Posted by Greg, 05/03/2022 17:24

"Andretti buy in maybe"

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8. Posted by alvarezh3, 05/03/2022 16:47

"Haas is not staying put. Congrats!!!"

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9. Posted by alvarezh3, 05/03/2022 16:44

"I live a block away from a K-12 school. In their basketball court there is a sign on one of its walls (It's in Spanish, I'm roughly translating it): "Actions committed by evil people succeed when those of good will do nothing!""

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10. Posted by Jet Jockey, 05/03/2022 14:40

"Excellent news! Kudos to the whole Haas organization for doing the right thing. "

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11. Posted by Superbird70, 05/03/2022 13:06

"Maybe Netflix can step up with some sponsorship. Steiner alone is worth watching Drive to Survive."

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12. Posted by Max Noble, 05/03/2022 11:25

"“Our Lives begin to end the day we become silent about things that matter.” - Martin Luther King Jr.

If we have any conscience, and any belief in the concept of a social contract we need to act where, and when we can… even if “too little, too late…” is possibly the optic, that is far better than nothing at all… ever…"

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13. Posted by Wokingchap, 05/03/2022 9:34

"Excellent, but I hope Haas can survive....Andretti perhaps?"

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