Haas terminates Rich Energy F1 title deal

Haas has ended its Formula 1 title partnership with Rich Energy with immediate effect following the Italian Grand Prix. 

British energy drinks brand Rich Energy signed a deal to become Haas' first-ever title sponsor ahead of the 2019 season, though the collaboration has lasted less than a year. 

The news followed directly after last weekend's 13th round of the season at Monza and came amid an uncertain future between the two parties after Rich Energy became embroiled in a legal dispute over its logo with British bike company Whyte Bikes.

Ahead of July's British Grand Prix, the situation escalated when a social media post from Rich Energy's official Twitter account claimed it had terminated its deal with Haas, citing "poor performance" following a difficult start to the campaign for the American squad. 

A team statement posted on social media on Monday read: "Haas F1 Team and Rich Energy have amicably agreed to end thier partnership together in the FIA Formula 1 World Championship with immediate effect.

"While enjoying substantial brand recognition and significant exposure through its title partnership of Haas F1 Team in 2019, a corporate restructuring proccess at Rich Energy will see the need for a revised global strategy.

"Subsequently, Haas F1 Team and Rich Energy concluded a termination of the existing partnership was the best way forward for both parties. 

"Haas F1 Team would like to express its thanks and best wishes to the stakeholders at Rich Energy."

No further information was provided by Haas and it remains to be seen what effect the deal breakdown will have on Haas' car livery for the remainder of the season.