Haas can reach budget cap with new sponsorship

Haas team principal Guenther Steiner believes that the MoneyGram sponsorship will allow them to reach the budget cap in the future.

Haas announced on Thursday that MoneyGram will be their title sponsor from the 2023 season. The parties signed a multi-year deal and Haas cars will have a rebranded livery next season.

Haas have one of the lowest budgets on the grid and operate below the cost cap. Steiner thinks that they can now reach the limit thanks to the new sponsorship.

“With this deal, we can go to the budget cap, and then everybody is on a similar platform. Obviously the big teams, they can spend outside of the budget cap more,” he said.

“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 that is what we want to do.

“With this deal, I think we make that step that in a few years, we can fight for podiums. I’m not promising [that] for next year because we just came back from two years that were very bad for us, and we recovered pretty well and we will continue to improve.”