A Haas statement read: ‘The arbitration panel ruled that, in light of all the facts relating to the parties’ relationship, including Uralkali’s association with Russia, Haas “could not be expected to continue the Sponsorship Agreement under such circumstances,” and concluded that “the arbitral tribunal finds that Haas had a just cause to terminate the sponsorship agreement”.’
The tumultuous ending to this title sponsorship saw Uralkali demand a US$13 million refund and US$8.6 million in compensation. In response, Haas alleged they were owed €8 million (US$8.5 million). Ultimately, neither side were successful with their claims.
The panel ruled that the title sponsorship was active until the date of termination – 4th March 2022 – so Haas are allowed to retain a portion of the fee for the period before this. The remaining balance for the 2022 season must be returned to Uralkali, but without the compensation it sought.
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