F1: Haas profitable, reach budget cap for the first time

For the first time since joining Formula 1 in 2016, Haas are self-sufficient. Ayao Komatsu’s team no longer require funding from owner Gene Haas – with a combination of sponsorships and prize money putting the US squad in a strong position.

Improved financials will provide an important platform for Haas moving forward – although there is still work to be done.

Haas undergo much-needed transformation

In a sport with big manufacturers like Ferrari, Mercedes and Honda (in addition to Audi and Ford incoming), Haas have always been severely outgunned.

A lack of resources, both in terms of personnel and infrastructure, traditionally prevented Haas from cementing themselves in the midfield.

Prior to last season, the US outfit often found themselves near the bottom of the standings – only finishing higher than 8th in the standings on one occasion (2018).

From an operational standpoint, they are a completely different proposition.

After spending years with virtually non-existent mid-season development, Haas made impressive gains throughout last season.

They even out-developed the likes of Aston Martin and VCARB – which shouldn’t be overlooked given Haas’ track record.

Securing 7th in the standings was not the only big news for Komatsu’s engineers last season.

A series of transformative sponsorship agreements, including a technical and commercial partnership with Toyota, mean that Haas are now operating at the budget cap.

They are also profitable, as Ayao Komatsu explains:

“This year is the first time that, as a company, Gene doesn’t have to put his own money in,” he told Lawrence Barretto.

“We haven’t been hitting the budget cap, [but] we are hitting it this year.

“So, we have a different challenge of making sure we stay within the budget cap.

“It’s great that we finally got here, but in terms of mindset, it’s the same thing like trackside engineering.

“We really had to change the mindset of everyone, [of] what is acceptable and what we have to strive for.”