SBD/July 3, 2014/Marketing and Sponsorship

Haas Automation To Sponsor F1's Scuderia Ferrari Team Beginning With British GP

Haas Automation has signed on to sponsor F1's Scuderia Ferrari team for the remainder of the '14 season and the entirety of the '15 season. Financial terms of the agreement were not available. Haas’ logo will be featured on the sidepods of the Ferrari cars beginning this weekend at the British Grand Prix in Silverstone. The deal is designed to give Haas Automation a chance to begin promoting its brand in F1 before it becomes a full-time, primary sponsor in '16. Haas Automation Founder Gene Haas is committed to become the only American owner of an F1 team in '16. He believes the move can help raise the profile of his machine tool building company overseas and boost its overseas revenue by as much as $900M. In a statement about the Scuderia Ferrari deal, Haas said, “Scuderia Ferrari is F1’s most prestigious and decorated team with a large, loyal and passionate fan base. Exposing Scuderia Ferrari fans and Ferrari customers to the quality of Haas Automation CNC machine tools is an important first step to expanding our global reach.” Haas has held talks with Ferrari about becoming the manufacturer for the Haas F1 team in '16 and said publicly that he is leaning in that direction, but they have not announced a deal. The team is slated to become the first American-based F1 team since '86.
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