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More Bizarre Happenings With Haas Sponsor Rich Energy

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This whole saga...if true... points to a very big issue for Haas.
We all know the advertising 'real estate' on an F1 car is governed by dollars.
You wouldn't take on a major sponsor without your finance people visiting the various plants and very closely examining the overall assets of such a company.
That would have happened numerous times before one signature went to paper.
Its just how business is done.
Exactly. Seems like not much due diligence was done.
 
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I guess this is like TV show DRAGONS DEN. They get people to back the product from connections to F1. Then use the money invested in them to make the product. This is the first time i have seen a sponsor of a product on a car that dose not egsist. Its a idea that wants money invested to get it of the ground. Bit like Prince Malic Abdou Ibrahim and T Minus his branding thing that went on Arrows and never took of.
 
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Their rejection of his offer seems like one of WIlliams' better moves over the last couple of years :thumbsup:
Was waiting for someone to pick up on this, I have to assume Williams did their due diligence and found the company suspicious. As I recall, it was not long before launch, and maybe the week before that they jumped ship from the Williams deal. Good to know that standards are in place at Williams. Would not surprise me at all to learn that Rich Energy is actually Ferrari, easy B-team funding loophole.
 
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