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Volume 10 No. 25


What was initially known as Haas Formula is now Haas F1 Team. Gene Haas, founder of Haas Automation and chairman of the newly renamed Haas F1 Team, opted for the name change to better correlate his team with motor racing’s most prestigious series -- the FIA Formula 1 World Championship. Haas F1 Team takes the place of the previous name, Haas Formula, which will remain the legal entity. Haas F1 Team will be the public and commercial name of the first American-led F1 team since '86. Its website,, launched on Tuesday, as did its Facebook page, The FIA granted Haas an F1 license in April (Haas F1 Team).

Scottish Championship side Rangers Chair David Somers "has made the stunning claim he is being underpaid" -- after leading the club to the brink of financial collapse, according to Gary Ralston of the Scotland DAILY RECORD. His admission "is set to anger the supporters" who have been told the club have a fortnight to raise £4M ($6.6M) or it is "set for administration." It comes at a time when Rangers CEO Graham Wallace "has refused to deny he will be taking a contractual bonus" of up to 100% of his £315,000 ($519,000) salary. Somers, 65, trousers £2,500 ($4,100) a day for his work as non-exec leader of the Ibrox board, an annual package of £60,000 ($98,800) a year for a contract that requests "he works a maximum two days a month" (DAILY RECORD, 9/2).