Latest financial statements released by Haas F1, owned by American tycoon Gene Haas, revealed the teams plans to extend spending by 22 percent to $11.7 million last year. Over the years the performance of the Formula One team has deteriorated and Haas has been planning to change their driver which might lead to improvements.
The increased investment done last year helped Haas F1 climb three places up from its earlier held eighth position in 2016 and 2017.
The financial statements show increased expenditure worth $2.3 million (£1.9 million) on machinery, vehicles, computer equipment and race shop in Britain in 2018. To improve performances, the firm also hired 14 new employees to reach a total of 92.
VF-19, the latest creation of Haas for 2019 was built with high hopes to grab a higher position than the previous year. However, despite the improvements made by increased expenditure and the plans to change the driver, the F1 car designed by Italian manufacturer Dallara does not seem to work for Haas F1.
Even though the car looks one of its kind, it is radically slow and the team is unable to figure out the reason for the same. It is for this reason that Haas F1 has for the time being negated the thought of appointing a new driver.
Commenting on the issue, Team Principal of Haas Guenther Steiner said, “This year [it’s] not performing as we want it to perform.”
When asked about rumours of changing the driver he said, “Romain was a big part of getting the understanding of where we are going wrong with the car at the moment. He was a big help. We didn’t want to have any more unknowns. The collaboration and how we work – we know what we have got and we can work with that. That’s why we took the decision to stay with Romain for another year.”
Clearly, in a situation when the troublesome car isn’t allowing them to perform nicely, a change in the driver would have hampered the performance of Hass F1 overall. It is because of the technical knowledge of Romain that they have been able to actively participate in the 2019 FIA Formula One World Championship.
Speaking of the need to maintain sportsmanship and gentlemanly behaviour in the 16th round of the championship, Romain Grosjean suggested that his fellow drivers should behave in a gentlemanly manner and not pitch him into the barriers in Russia.
Despite the above mentioned issues, Haas Formula LLC has affirmed that it will provide financial support if necessary to continue smooth functioning of the team. But the troubles do not end here because Brexit could have a strong impact on Haas as it heavily trades with continental Europe.
As of now, Haas says that it is difficult to see the possible impact of Britain’s exit from the EU on the logistical operations of the team.
Large Scale Anti-Government Protests Erupt in Egypt
Anti-government protests in Egypt are on the rise after hundreds of protestors in the Egyptian governorate of Giza came out on streets on Sunday. In-lieu of the highly anticipated protests, security in the country was heightened to control the demonstrations. Despite the increased security, the…
Saudi Crown Prince’s Ties with Western Allies in Jeopardy
The Middle East region has been trying to modernise its thinking and political relations lately. With two Gulf countries normalising relations with Israel, it looks like the region is transforming. However, this progressive thinking and willingness to accept changes is not a forte of every…