Formula 1 | Steiner: MoneyGram sees F1 as an “important sport”.
Haas F1 announced title sponsor to great fanfare in Austin last month. The American team signed a multi-year contract with Texas-based MoneyGram. The director of the team, Günter Steiner, believes that this is a harbinger of the great interest of American companies in Formula 1.
“I think MoneyGram is ahead of the curve” Steiner told RACER. “I think there will be more to come from the US, and I hope MoneyGram has opened the door for other people.”
“The interest in Formula 1 has increased, all the fans are there, but the companies are not reacting immediately. It’s like, ‘OK, it’s interesting, but let’s see if it sticks, let’s see where it goes, let’s see who else is doing it.’ first, ‘therefore there are others to compare with.
“I know Oracle is in Red Bull’s car, but it’s another dimension. Oracle is an American company, but it’s very important. I think MoneyGram is an American company that thinks F1 can help us. To do more, we need to develop our global business. Please help.”
“Formula 1 is growing, so they looked at it and said, ‘This is a really important sport,’ and then they started doing it and eventually they joined us as a partner, which is great.”
MoneyGram comes with a “clear purpose”.
After failures with Rich Energy and Uralkali, Steiner is not worried about a third snub: “I don’t think about it at all. We’ve done our due diligence, I have a stronger team around me to work with these people and come up with these deals.”
“The agreement was reached after very tough negotiations, which shows that it will work. They know what they are doing, they know what they want from it, and that makes me confident that they are ready for it.”
“They have clear goals of what they want to get out of this program, they’re not doing it because they woke up one morning and they want to do it — it’s a publicly traded company and they have to deliver on their promises.”
“They’re going to make it their own and we have to work with them to achieve their goals. I don’t care if it works or not. If it doesn’t work, we’re going to cross that bridge. When we get there, let’s go, but right now I’m not afraid of a possible problem with that.” .
A project that develops over time
Steiner now wants to build a strong team, and the partnership with MoneyGram reflects this. This is part of the overall structure development plan: “It’s a lot of work, but it’s part of my job and part of the team now.”
“We’ve made a lot of progress in the last two years, we’ve gotten better at some things when we’re where we are. We’ve gotten better at finding sponsors. Now you see sponsors in the car.”
“The breakup with Uralkali gave us a break. We just realized that we had to do something, and in January we started with a new marketing director, and he’s doing a good job, but we didn’t start hiring him in January, we started last year.”
“It’s the same for everybody, you’re working and you’re doing things and all of a sudden they fall into place. And you’re like, ‘How did you do it?’ shows that you should keep doing what you think you are.”
Comfortable Operation with Gene Haas
During this period of rebuilding and growth, Steiner appreciates having the opportunity to do whatever he wants with team owner and founder Gene Haas.
“We know where we need to go. He gives us all the support we need, but he clearly tells you, ‘as a business, we need to achieve this’ and how to get there. ‘We did what the investor was trying to achieve.’
“We have to have a commercially viable F1 team that nobody has to subsidize. Any company should achieve that. It’s a very fair goal and if I don’t like it, I can choose to leave. That’s part of why I love being here, a goal for you. it’s set, as long as you can do it, nobody’s going to stop you from doing it, and then he gives you the support you want.”
