F1: Haas Racing to Continue Partneship with Ferrari

F1: Haas Racing to Continue Partneship with Ferrari

F1: Haas Racing to Continue Partneship with Ferrari

$RACE

Haas Racing’s boss, Guenther Steiner says the Haas Team is not rethinking its partnership with Ferrari (NYSE:RACE), and ease towards a more independent approach to F1.

Haas joined the competition this year with an extensive engine and technical partnership with Ferrari, which caused controversy at the tail-end of last year and led to the FIA closing a loophole in the regulations.

Despite an inconsistent year the Haas Team has exceeded pre-season expectations, with 29 points alongside its name heading to the season finale in Abu Dhabi.

Gene Haas’ team, also has a partnership with Italian chassis manufacturers Dallara, splits work between bases in Banbury, UK and Kannapolis, NC.

Mr. Steiner believes the team’s current business model is the reason for Haas having such a successful rookie season and sees no reason for it to end.

When asked if the team would “rethink” the Ferrari relationship in Y 2017 and beyond, Steiner replied: “No, we have a long-standing contract in place with Ferrari that we can continue the business model we are doing. We are going forward like this for the next few years and then we see, we rethink. But at the moment we are very happy with Ferrari, what they did for us over the year to get to the point where we are now.

“Hopefully we finish 8th if Renault does not pull out something very special, and we hope we move up next year. But in the moment, for sure you always develop your team and you keep on getting better and more people in and that will happen, but in general it stays like we are now.”

Team Haas will finish 8th in the championship barring an unlikely 21-point swing in Renault’s favor at Yas Marina.

In Brazil the team finally confirmed its driver line-up for Y 2017, signing Kevin Magnussen to partner Romain Grosjean, the man responsible for all 29 of its points so far this year.

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 52.76 18 November 2016 -0.53 53.19 53.23 52.72 382,600
HeffX-LTNAnalysis for RACE: Overall Short Intermediate Long
Neutral (0.13) Neutral (-0.05) Neutral (0.17) Bullish (0.26)

Have a terrific weekend.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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