There is reportedly a riveting conflict between Haas team chief Guenther Steiner and team founder Gene Haas concerning team ownership. At the heart of this dispute lies a claimed agreement from 2016, in which Steiner alleges, “I think it has to be my passion project. I started this team. I went out and found an investor.” Steiner insists he was promised 50% ownership of the F1 division, a statement Gene Haas refutes.
This contention isn’t just about titles; it has significant financial implications. With the Haas F1 Team presently valued around $900 million, if Steiner’s claims hold water, he stands to miss a potential $450 million should the team be sold. Steiner’s vested interest in the matter is evident, given such substantial financial stakes.
Despite the intensifying disagreement, Steiner has frequently spoken of his positive association with Gene Haas. Both have played instrumental roles in the establishment and success of the Haas F1 Team. However, the current dispute over rightful ownership threatens to overshadow their collaborative past.
Amplifying the situation is the consistent uptick in the team’s valuation, as it edges closer to the billion-dollar milestone. In light of the rising value and potential acquisition interests, Steiner commented, “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.”
As the Haas F1 Team faces this ownership conundrum, they simultaneously battle on the race track, currently positioned eighth in the constructors’ standings, matching points with the tenth-placed Williams team. The outcome of this ownership tussle remains eagerly anticipated by fans and stakeholders alike.