Haas not pulling out of F1

Formula 1 team Haas has no immediate plans to pull out of the sport.

The American outfit has had a tumultuous 2019 season, with its car struggling to cope with the Pirelli tyres and controversial title sponsor Rich Energy pulling out.

But F1 business journalist Christian Sylt has found in Haas' financial statements that Haas will receive "financial support ... for the company to continue in operation for ... at least 12 months from the date of ... these financial statements".

According to Forbes, the statements were dated 17 May of this year.

Owned by Gene Haas, the team entered Formula 1 in 2016.