Formula One motor racing team, Haas, has refused to refund £10 million to former title sponsor, Uralkali, after it terminated its contract with the Russian chemicals firm. Haas moved quickly following the Russian invasion of Ukraine on February 24, removing Uralkali's branding from its car, before terminating its agreement. However, after the racing team terminated the agreement Uralkali threatened legal action. In a statement issued by Uralkali last month, the company made clear it believed that the 'unilateral termination' of its sponsorship agreement with Haas was 'unreasonable'. The refund from Haas and the remaining part of Uralkali's sponsor financing for 2022 will be used to establish the We Compete As One athlete support foundation.'

Source: Daily Mail April 15, 2022 18:43 UTC