Haas drivers Kevin Magnussen (l) and Romain Grosjean (r) with Peak and BlueDef productsHaas F1 Team
The Haas F1 team this morning announced that Old World Industries -- through consumer-facing brands Peak and BlueDef -- has signed on as a new partner of the team, marking the first time that a NASCAR industry sponsor not owned by Gene Haas has aligned with the team. Peak and BlueDef will be featured on the nose of the team’s two cars driven by Romain Grosjean and Kevin Magnussen throughout the rest of the ’18 season starting at this weekend’s British Grand Prix. OWI is an automotive aftermarket company that sells products in more than 50 countries worldwide, and it was this global reach that sparked OWI’s interest in F1. OWI also will get at-track hospitality assets as part of the deal. Haas F1 Team Principal Guenther Steiner said, “Old World has been in motorsports for a long time and they looked a little bit outside the United States to do some global advertising. … They knew some people in NASCAR who approached us and said, ‘Can you make a link to the F1 team?’ And we got together and made a deal.”
EXPANDING THEIR ROOTS: Steiner confirmed that this is Haas F1’s first sponsor to come over from NASCAR aside from Haas Automation, the machine parts company owned by team owner Gene Haas. Haas has been leveraging his F1 team to grow Haas Automation’s business globally, but bringing in outside sponsorship is critical to defraying the massive costs of running an F1 outfit. Haas last year indicated that he was hoping to cut his losses on the team to $40M per year, which he said he counted as an R&D/marketing investment. Peak is the name on several automotive products sold by OWI including antifreeze coolant and motor oil, and BlueDef is a diesel exhaust fluid. Peak is involved in several other forms of motorsports including title sponsoring NASCAR’s Mexico Series and serving as a major sponsor of NHRA team John Force Racing. Haas F1 is coming off its best ever result last weekend, when it finished fourth and fifth at the Red Bull Ring in Austria.
