The Haas Formula 1 team has announced the signing of a new title sponsor for the 2023 season.

The American-registered operation has inked a deal with MoneyGram International, with the team’s formal name becoming MoneyGram Haas F1 Team.

“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 maximize results on and off the track.”

The team made the announcement in Austin this morning ahead of the weekend’s United States Grand Prix – billed as the team’s home event despite its factory being in the United Kingdom and much of its design work being carried out in Italy.

Haas has operated without a title sponsor throughout 2022 after severing ties with Uralkali during pre-season testing.

That came in the wake of Russia’s invasion of Ukraine, and as motorsport attempted to distance itself from the aggression.

Nikita Mazepin, to whom the sponsorship was linked, also lost his drive, replaced at short notice by Kevin Magnussen.

Haas is one of two teams yet to confirm its driver line-up for 2023.

Magnussen is set to continue though the identity of his team-mate is unclear with Mick Schumacher tipped to lose his drive. Nico Hulkenberg is the favourite to replace the young German.