Racing Point and Haas have reached a settlement in a two-year-old row between the teams regarding the distribution of Formula 1’s prize money.
Formula 1 originally agreed to regard Racing Point as a continuation of the previous team. This meant they were entitled to continue receiving a share of the sport’s ‘Column One’ prize money.
However Haas argued Stroll had not purchased Force India’s entry to compete in Formula 1. In their view, this meant Racing Point should have been considered a new team and therefore not eligible to receive a share of prize money as was the case for Haas when they entered Formula 1 in 2016.
Haas successfully established this by protesting Force India’s cars at the final race of 2018 in Abu Dhabi. The stewards ruled: “In relation to the submission by the Racing Point Force India F1 Team that it is not a new team, the stewards decide that the Racing Point Force India F1 Team is indeed a new team.”
Haas therefore had grounds to argue either that they should have received a share of Column One income when they were a new team, or that Racing Point’s Column One income should be withheld. The row, involving Formula 1 owners Liberty Media, has gone on since the end of 2018.
However speaking in today’s FIA press conference Racing Point CEO Otmar Szafnauer and Haas team principal Guenther Steiner confirmed a settlement has been reached between the two teams.
“We’re pleased that it’s come to a conclusion and now the entire team can focus on what we’re here to do and entertain the fans,” said Szafnauer. “We’re happy it’s behind us.”
Szafnauer would not confirm whether Racing Point had received the disputed share of F1’s prize money. “As I said before it’s nice to have settled it and we should just move on and go racing.”
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