Rich Energy

Rich Energy back in the headlines in a new sponsorship saga

Rich Energy is making new headlines in the motorsport world, due to a strange situation unfolding in the British Superbikes Championship.

Three years after the sponsorship furor between Rich Energy and the Haas F1 team, which resulted in an unusually public back-and-forth between Rich Energy CEO William Storey and the Haas team, the controversial energy drink company making waves in the world of motorsport. once again.

However, as before, it’s not for all the right reasons, as the situation is about another “are they or aren’t they?” sponsorship agreement between Rich Energy and a racing team.

In British Superbikes, the OMG Racing Yamaha team have carried the sponsorship of Rich Energy and their familiar black and gold livery since the start of 2020.

Earlier this week, Rich Energy’s Twitter account (which is unverified, but apparently controlled by Storey) tweeted to say that the sponsorship deal between their company and the OMG Racing team is over.

“Rich Energy would like to thank @OMGRacingUK for their work over the past 2 years, but the entire agreement is now complete. Rich Energy is expanding its portfolio in many areas, including sports.

However, this announcement from Rich Energy appears to be beyond Storey’s control, with OMG Racing releasing a statement on Wednesday night clarifying that the BSB team sponsorship is not directly with the drinks company.

“Following certain social media posts, press interviews and publications over the past few days, the Rich Energy OMG Racing team would like to provide an update on the team’s sponsorship in the Bennetts British Superbike Championship (BSB) “, read the statement.

“Rich Energy OMG Racing is not and has never been sponsored by William Storey.

“Rich Energy OMG Racing is not and has never been sponsored by the owners of the Rich Energy brand.

“Rich Energy OMG Racing is sponsored by RichOMG Limited, the worldwide beverage sales and distribution rights holder, Rich Energy (Classic) and Rich Energy Sugar Free.

“This sponsorship agreement was established in March 2020 ahead of the 2020 BSB season and remains firmly in place at this time.”

PlanetF1 has contacted Storey to comment on the issue.

Speaking to Superbike.co.uk, Storey reportedly said: “OMG have spent months dithering and failing to engage with our lawyers. Our due diligence on them has also revealed some rather worrying facts which we have relied on. They didn’t answer.

“It became clear that they couldn’t do the deal we discussed on November 21. We spent many months waiting for them, which was a waste of time.

“They couldn’t get a deal done and our business partners said they weren’t suitable to be involved with the brand. We then heard first hand from people in the paddock that OMG had misrepresented its position with Rich Energy and slandered the owners, making their position tenuous at best.

Asked if the drinks company’s ignominious split with Haas might lead fans to believe a repeat of unusual behavior, Storey said “the truth” would come to light.

“First, if the truth about the Haas debacle were public (which I hope will be in due course), no one would suggest even the slightest criticism of Rich Energy,” he claimed.

“Any suggestion of ‘infamous’ activity is slanderous and patently false.

“Second, I have pointed out that OMG has failed to act professionally, including by failing to respond to basic requests from our attorneys for many months.

“For this reason, and many others, including bad faith, it happened. The whole agreement with them ended. They knew it several weeks ago, but failed to s Engage in constructive discussions Rich Energy expects integrity and professionalism from all of our partners.

The controversial businessman claimed in early 2021 that Rich Energy would be a top sponsor on the F1 grid for the 2022 season, following the arrival of an “ally” in another team.

Publication on Twitter at the timeStorey said: “I am delighted to announce that Rich Energy is returning to Formula 1.

“Unfortunately, due to poor performance on and off the track [in 2019]I unfortunately had to fire Haas.

“Over the past year (2020), we have worked incredibly hard to lead a renaissance of Rich Energy around the world where millions of consumers are trying our drink.

“Since leaving Formula 1, I have worked very diligently to organize a comeback and have noticed that there is actually a new financial reality in Formula 1.

“A strategic ally of Rich Energy has agreed to acquire a majority stake in an existing team. We explored, with the new regulations, the entry of our own team for 2022, which would be the Rich Energy Formula 1 team.

“But a friend of ours has reached an agreement for a majority stake in an F1 team, and we will become a partner of that team for 2021. Once this acquisition is announced, we will become the title sponsor for 2022.”

However, despite Storey’s comments, none of these claims have yet come to fruition.


#Rich #Energy #headlines #sponsorship #saga

Leave a Comment

Your email address will not be published.