Formula 1: William Storey sells his majority stake in Rich Energy
By Asher Fair
CEO and founder of Haas Formula 1 title sponsor Rich Energy William Storey has sold his majority stake in the British beverage company.
The Storey is over.
Rich Energy CEO William Storey, after a seven-day ordeal of crazy quotes, crazier tweets and endless confusion (but at the same time, comedy unlike anything Formula 1 has seen before), has sold his majority stake in Rich Energy, the title sponsor of the Haas Formula 1 team.
He confirmed this news on Rich Energy’s Twitter page.
This news comes just hours after Storey unintentionally admitted that he lied about everything he had previously stated about the British beverage company severing ties with Formula 1’s lone American team in a tweet he sent to take a dig at the team.
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After at least five times stating that Rich Energy had cut ties with Haas, he referred to Rich Energy as “your title sponsor” when discussing the team and accusing them of a “repudiatory breach” of the contract.
In other words, as many other parties involved in this mess have stated, the agreement was never terminated.
This whole ordeal began last Wednesday when Storey tweeted that Rich Energy had terminated the company’s title sponsorship contract with Haas. While he has since insisted on the matter in more ways than one, including but not limited to various comical statements and hilarious memes, he has been met with many contradictions from within Rich Energy and within Haas, and he has consistently been the only person arguing against their statements.
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While William Storey has sold his majority stake in Rich Energy, the Rich Energy-Haas title sponsorship debacle in Formula 1 is still ongoing, although clearly to a lesser extent with Storey out of the picture, which is what Haas have wanted, particularly over the course of the last week. Expect to know more on this situation in the near future.