Haas F1 team boss Gunther Steiner has revealed the team is yet to reach a commercial agreement with FOM (Formula One Managment), despite the season opener being just two weeks away.
Commercial agreements between teams and the FOM are needed to commercially bind a team to Formula One so that at the end of each season the team can receive revenue from the FOM based on their constructors’ championship finishing position.
Without this deal, Haas would not be eligible to receive any prize money from FOM regardless of their finishing position in the coming season. Speaking to Autosport.com Steiner confirmed no deal had been signed but he was happy with how talks were progressing.
“Let us say we are at a ‘make and shake’ point, but I am most encouraged by the progress we have made.”
Instead of worrying about the commercial deal Steiner was more concerned with discussing the team’s objectives for Australia and beyond.
“In Australia the objective is to get into Q2 and, if possible, to get a point home, and otherwise finish in the top 15, but to do the best we can,” he said. “Just be respectable out there.
“If we come seventh [in the constructors’ championship], it’s fantastic.”
If Haas were to finish seventh and agree to a deal with FOM they could expect to net approximately £40m, almost half of their annual budget.
As it stands FOM only pays out prize money to teams who finish in the top ten but with 11 teams taking part in the constructors championship this season the 11th placed team would have to strike a deal with FOM like Marussia did in 2013 which resulted in them netting £6.5m.
