Rich Energy says it is returning to Formula 1 after an “ally” reached an agreement to buy a majority stake in an existing team.
The energy drink company proved one of the most infamous fans in Formula 1 history when it partnered with Haas as a title sponsor in 2019, though that relationship didn’t even make it until the end of the season.
However, if their founder William Storey is to be believed, Rich Energy will return to Formula 1 this year as part of a deal that struck their “strategic alliance” to buy into the Formula 1 team.
Rich Energy will then be the team’s official title sponsor for 2022.
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“I am delighted to announce the return of Rich Energy to Formula 1,” Storey said in a video on Twitter.
“Unfortunately due to poor performance on and off track [in 2019], sorry I had to bag Haas.
“In the past year we have been working hard to lead a worldwide revitalization of Rich Energy where millions of consumers are trying our drink.
“Since leaving Formula 1 I have worked hard to innovate in return and have realized that Formula 1 has a new financial reality.
“With terrestrial TV less and a payroll viewer, instead of 10 or 12 million people watching Formula 1 on BBC or ITV, it’s a few hundred miles on Sky.
“Subsequent damage to funding means there are a number of different teams [in financial trouble], for example McLaren has sold and taken back their Woking technology center, and Williams was in financial trouble until they were knocked out by our friends at Dorilton Capital.
“And of course even Haas now has to go for pay drivers because of the weak financial situation.
“So I’ve been looking for a way for Rich Energy to return hopefully both to us and to the team we’re going with.
“Rich Energy’s strategic alliance has agreed to purchase a majority stake in an existing team. We explored with the new rules coming into our own team for 2022, which would be a Formula 1 Rich Energy team.
“But a friend of ours has agreed to a majority stake in the Formula 1 team, and we will be a partner in that team for 2021. As soon as that build is announced we will be a title supporter. for 2022.
“I’m really looking forward to competing with our competitors along the way, I’ll be at the first race, March 28 in Bahrain. ”
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