![]() ![]() However, a concern for Haas must be that F1’s most recent start-ups have enduring mixed fortunes. “Just the association of being with F1 basically takes a brand from nobody to the stratosphere,” said Haas, whose team will be based in Kannapolis, North Carolina, though it will have an overseas office close to London, England. Haas has taken note of Red Bull Racing’s success in F1, a team that has won four straight world titles in the 10 years since Austrian tycoon Dietrich Mateschitz, the co-founder of the energy drink company, bought and revamped the Jaguar race team. “We should be somewhere in the middle of that.” “Some teams spend half a billion, some spend 50 million dollars a year,” as Haas did the maths. “If I can achieve an extra billion in sales, we will pay for whatever F1 costs,” the Californian told CNN’s The Circuit. Tthe 61-year-old NASCAR team owner has been motoring on with his plans to build his brand new Haas F1 Team from scratch to join the grid in 2016.Īs the founder of Haas Automation, he sees F1’s global world championship as the perfect shop window for his billion dollar machine tool manufacturing business. Which goes some way to explaining why he’s prepared to enter the dollar-draining world of Formula One – and expects to make money. American entrepreneur Gene Haas is a great believer in the adage “you’ve got to speculate to accumulate.” ![]()
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