Gene Haas, co-owner of Stewart-Haas Racing, has made it clear he’s not looking to sell his Formula 1 team. This comes after he and business partner Tony Stewart announced the closure of their NASCAR team at the end of the 2024 season.
Despite a respectable tally of 69 wins over 15 years and holding four charters, the duo decided to shut down operations, including their Xfinity Series team.
In a joint statement, Stewart and Haas explained their tough call: “We have made the difficult decision to close Stewart-Haas Racing at the conclusion of the 2024 season. It is a decision that did not come easily, nor was it made quickly.”
They added: “Racing is a labor-intensive, humbling sport. It requires unwavering commitment and vast resources, with a 365-day mindset to be better than everyone else. It’s part of what makes success so rewarding.”
While the NASCAR chapter is closing, questions have surfaced about Haas’ F1 team, which has had a solid start in the 2024 season, but faces financial constraints. With seven points from the first eight races, the team’s future potential hinges on Haas’ willingness to inject more funds.
Despite Haas’ reputation as a consistent underperformer since their impressive 2018 season, Gene Haas’s future and dedication to the project have been frequently scrutinized. With Andretti seeking a way onto the grid and the team already based in America, many are speculating about a potential buyout.
However, according to the Associated Press, Haas has no intention of reducing his investment in the F1 project or selling the team entirely following his NASCAR decision.
This could throw a wrench into Andretti’s plans, with him advised after the Monaco Grand Prix to abandon their plan to enter F1 as an 11th team and instead purchase an existing team that is struggling, such as Haas or Alpine.
FIA president Mohammed Ben Sulayem shared his thoughts on this matter: “I would advise them to go and buy another team, not to come as the 11th team. I feel that some teams need to be refreshed. What is better? To have 11 teams as a number or 10 and they are strong? I still believe we should have more teams. But not any teams. The right teams.”
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