William Storey, Circuit de Catalunya, 2019

Rich Energy CEO Storey attacks own company’s Haas statement as “ludicrous”

2019 British Grand Prix

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Williams Storey, CEO of Haas title sponsor Rich Energy, has attacked a statement by his own company which denied it had terminated its contract with the Formula 1 team and accused other shareholders of attempting a “palace coup”.

A group referring to themselves as “the shareholders who own the majority of Rich Energy” blamed “the rogue actions of one individual” after a social media post yesterday claimed the company was ending its support of Haas due to its “poor performance”.

However a further social media post from Rich Energy’s account, attributed to Storey, attacked that response and claimed those behind it were sympathetic to rival brand Red Bull and Whyte Bikes, who recently won a court case against Rich Energy over trademark violation.

“The ludicrous statement by minority shareholders cosy with Red Bull and Whyte Bikes is risible,” said the statement attributed to Storey.

“Their attempted palace coup has failed,” the statement added. “I control all of the assets of Rich Energy and have support of all key stakeholders.”

Haas team principal Guenther Steiner said today he was “surprised” by the announcement Rich Energy was pulling its support and said the company’s branding would remain on their cars at this weekend’s British Grand Prix.

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Keith Collantine
Lifelong motor sport fan Keith set up RaceFans in 2005 - when it was originally called F1 Fanatic. Having previously worked as a motoring...

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55 comments on “Rich Energy CEO Storey attacks own company’s Haas statement as “ludicrous””

  1. It gets better and better! Comedic gold.

    1. Absolutely! Fantastic stuff!

    2. Obviously he has been studying at the Ecclestone publicity school and has earned a BCE.

      1. Good one, @hohum!

      2. Well spotted @hohum, fits perfectly

    3. I reckon it’s Rick Rubin or one of the ZZ Top guys having a giggle, hope someone’s filming it.

      1. Netflix is filming. And maybe that’s the ultimate goal? Haas was one of the teams most prominently featured in last year’s Drive to Survive, and perhaps Storey thinks this situation will get him even more coverage. There’s no bad publicity afterall, right?

  2. His obsession with Red Bull is worrying. For the state of his mental health, that is.

    1. @phylyp Those that have tasted the drink say it is RedBull re-branded and one rumour is that Rich Energy is tied to Dietrich Mateschitz or Chaleo Yoovidhya.

      1. William Jones
        12th July 2019, 19:23

        No way is it rebranded red bull, tastes like the generic Chinese energy drink that’s rebadged everywhere, usually as a novelty rather than an actual push into the market though. I’ve got a Crufts energy drink and most of a case of Whyte .. I mean Rich left and I can’t tell the difference.

  3. “Rogue individual” strikes back!

    1. Pat Ruadh (@fullcoursecaution)
      12th July 2019, 12:11

      This “rogue individual” must have dressed up as Storey and given this statement to the Sun as well. https://www.thesun.co.uk/sport/motorsport/9483957/rich-energy-f1-haas-team-sponsorship/

  4. Neil (@neilosjames)
    11th July 2019, 23:34

    This is majestic. And I get the impression he doesn’t quite realise what he sounds like.

    I can picture him seeking asylum in some random embassy, Assange-style, refusing to come out until the dark forces arrayed against him cease their assault on Britain’s No. 1 Energy Drink, let him have all the shares and a Whyte’s Bike to escape on, and everyone promises not to put him on trial for fraud, even if it turns out Rich Energy is just re-canned Asda Blue Charge.

    1. NEWSFLASH !!!
      Story sues Asda Blue Charge for logo infringement, says “he is owed millions”

  5. A F1 journalist who used a RE logo on his YouTube videos and interviewed Mr Storey on a couple of occasions in a PR capacity, has suddenly gone mute on the situation and has removed the RE logo from his site.


    1. 2 videos were posted today from him as well and the Rich Energy is gone and replaced with another sponsor. Whyte Bikes also found a post from said journalist years ago where Romain Grosjean is actually riding a Whyte Bike. https://twitter.com/WhyteBikes/status/1129772100204601344

    2. Who is that?

      1. Peter Windsor?

        1. Our Scarb does his technical videos in a Rich shirt as well…Nothing wrong with making a living.

          1. William Jones
            12th July 2019, 19:28

            Nothing wrong at all with making a living, but if your sponsor becomes the news that your channel should be addressing, and you don’t address it, then your trustworthiness is eroded. All he had to do was a candid ” This is why I won’t be talking about Rich Energy, my contract with them forbids it” or “Im worried I will lose that money and this is how it improves my content” and everyone would be happy. By not saying that, the natural assumption is that he’s got more to lose than a few thousand for sponsorship, even if that’s not the case, in the absence of details, people try to infer them.

    3. Removing the logo is probably legally required ; and with his role in this so far, and his unfortunate USAf1 adventure, now is a good time for Peter Windsor to lay low until he learns some solid facts about RE, in my opinion.

    4. Duncan Snowden
      12th July 2019, 13:39

      A lot of people criticized his post-lawsuit interview with Storey, but it wasn’t hard to read between the lines and see that he wasn’t impressed. The sponsorship disappeared for a while after that, then came back, possibly due to contractual obligations. But he hasn’t said a word about it since.

      1. Good analysis. Cheers!

  6. At this point, regardless of what happens, Gene Haas will be glad to depart ways because Storey will start to affect Haas CNC’s business.

  7. Elon Musk? Is that you?

    1. It look me waaaaay too long to get the “rogue engineer” reference. Very well done!

  8. Guessing that they wanted to pull sponsorship but fine print states they need to pay regardless. So they can have the logo on the cars or not but they still owe the money.

    1. Im not sure logic applies here.

  9. … and said the company’s branding would remain on their cars at this weekend’s British Grand Prix.

    According to Racefans Roundup of 12th July, one Thomas Maher tweeted “Whyte Bikes have not been paid the 35k by Rich Energy ordered by the courts. If payment is not received by close of business today, Whyte Bikes will file a petition to have Rich Energy wound up.”

    1. @drycrust – well, Haas can just tape a “Not so” above the RE name on their cars.

      1. @phylyp: LOL! Both cheap and rich in one comment.

    2. Well, this Thomas Maher would be slightly wrong.

      The court order requires payment by the 18th. If no payment is made by then, the courts will find Rich Energy in contempt of the order and yes, they can file a winding up order if they want.

      Don’t forget that Rich Energy have also been compelled to provide details of the Haas sponsorship too by the 1st August. This is Storey flailing trying to find a way not to open the books. Because when they do, the truth will out.

      1. @stopitrawr Ha ha! Thanks for the update. So we have two dates we need to watch (allowing for different time zones): 1) 18th July for the full payment of the 35K to Whyte’s Bikes; and 2) 1st August for revealing to the court the details of Rich Energy’s contract with Haas F1.

        1. @drycrust, actually, now it looks like the 11th July was the correct date to begin with, as it seems that Whyte Bikes have released a statement stating that they were expecting payment by the 11th July and confirming they are now looking at filing a winding up order against Rich Energy and personal bankruptcy proceedings against Storey, given that they have not yet received any payment from any of the three defendants in the case (which targeted Storey, Rich Energy and another of his companies).


      2. Don’t forget that Rich Energy have also been compelled to provide details of the Haas sponsorship too by the 1st August. This is Storey flailing trying to find a way not to open the books. Because when they do, the truth will out.

        Spot on. Storey is such a despicable desperate and embarassing character to motorsport and the UK, can’t wait to see him get his just desserts.

  10. That first tweet in pre-season testing where he exclaimed that they beat Red Bull tells you all you need to know about the company and this deal.

  11. *grabs popcorn*

    I like this guy, he is like a character out of ZZ Top. Proper bloke. Let the drama unsue, and let things explode.

    When body parts start flying I am betting on him to toughen it out.

    1. They can also change the logo no problem, just replace it with this guys beard silhouette.

      1. @jureo: And if need be, change up the brand name to Rasputin Energy

        1. Is it a beard or is it a stag; lol @phylyp, so simple, 5 minutes more initially and it would have saved them lots of trouble;but, maybe also publicity? Not quite sure what was priority there.

          1. @bosyber – yeah, it’s just the antlers minus the head, now. Pretty clever, tbh, to still retain all the mileage gained out of the negative press. Although it can be viewed as the outline of a beard as well ;)

            In fact, if not for the looming threat of HM’s court orders, I’d have chalked down the latest shenanigans as an attempt to boost the brand’s visibility. I mean, is anyone even talking about Rokit, even after they extended their sponsorship contract? But everyone’s talking Rich Energy, even if the contract might be broken.

  12. Is that you Prince Malik? Cool disguise bro. As for the logo – just change it to T-Minus, problem solved.

  13. I knew the denial yesterday was not the last chapter in this novel. Dodgy founder, dodgy company, dodgy product, dodgy finances -> all the signs of a scam

    1. You mean like RedBull?

      1. @jureo, given that Red Bull has a turnover in excess of €7 billion a year, I don’t think that “dodgy finances” is a charge that you can really levy against them.

        1. Still a total scam charging premium for a can of water laced a tiny bit of chemicals and calling it “energy”!

          1. Noone tell him about Coca cola!!

          2. Coffee???

  14. RocketTankski
    12th July 2019, 9:39

    Ah, the neverending story!
    He could launch a generic cola and use it to sponsor a second team, Ricca Energia?

  15. top kek

  16. Have to say – the photo makes me laugh – looks like he is leaning against the Racefans.net Motor-home

    1. RocketTankski
      12th July 2019, 13:40

      He’s there filming for Sums of Anarchy. Plays an “energy drinks dealer” in the next season.

  17. “Building a brand” – not.

  18. This Rich Energy business just reeks of money being laundered.

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