“We are going to learn what Formula One is all about but I think we have got
American smarts as far as racing and we are going to apply that to Formula
One in our own way.”
Mr Haas said it would have been quicker to become a sponsor or to acquire a
team, but this would involve re-branding it rather than creating an outfit.
He has hired Guenther Steiner, a former technical director of four-time F1
champions Red Bull Racing, to run his team, to be known as Haas Formula.
“Ownership is really the only way to enter the sport in a practical fashion
for my company,” he says. “I think as a sponsor we would lose a lot of
marketing pride… Quite frankly, I could have spent $100m in advertising and
I don’t think I would get as much bang for the buck as I would in Formula
One.”
In April, F1’s chief executive Bernie Ecclestone said that a new team owner
would need to invest $1bn over four years but Mr Haas is confident of a
return.
He said: “If we can associate Haas Automation with Formula One, it becomes a
premium brand and a premium brand is the Holy Grail of marketing.”