The only US team on the grid had scheduled a press conference for Thursday at the F1 United States Grand Prix setting tongues wagging that a decision had been made on Schumacher’s contract.

The son of the legend Michael Schumacher is contracted until the end of 2022 but his place in the F1 2023 driver line-up is still up in the air.

Mick Schumacher's F1 future - STAY or GO?

Instead, Haas have confirmed a multi-year agreement with MoneyGram International Inc to be their new title sponsor - the team will be renamed MoneyGram Haas F1 Team.

The cars will feature a livery rebrand for the F1 2023 season too.

“We are pleased to welcome an incredible brand like MoneyGram as our new title sponsor,” said Gene Haas, Founder and Chairman of Haas F1 Team. “Since our entrance into the F1 World Championship in 2016, Haas F1 Team has earned a reputation of strength, agility and resilience. MoneyGram brings a similar drive to the world of financial services, and we’re ready to work together to maximise results on and off the track.”

It is hoped that this partnership with a significant step for the team as they seek to take advantage of F1's growth, particularly in the US.

Haas have a history with title sponsors

Haas dropped Uralkali as their title sponsor before the 2022 season started.

The company was run by Russian Dmitry Mazepin, the father of their driver Nikita Mazepin. 

Haas opted to cut ties with Uralkali and their driver Mazepin due to Russia's invasion of Ukraine.

The team also ended a bizarre relationship with title sponsor Rich Energy in 2019.

The energy drink company bragged that they wanted to beat Red Bull "on and off the track" but, on the eve of the F1 British Grand Prix, the company tweeted that they had ended their deal with Haas.

William Storey, their CEO, called Haas' car "a milk float". Storey soon left Rich Energy and, shortly after, Haas ended their partnership prematurely.