Rich Energy back in the headlines in fresh sponsorship saga

Rich Free energy back in the headlines in fresh sponsorship saga

Engagement published: July 21 2022 - Editor

Rich Energy are making new headlines in the motorsport world, due to a bizarre state of affairs unfolding in the British Superbikes title.

Three years on from the sponsorship furore between Rich Free energy and the Haas F1 squad, which resulted in an unusually public 'back and forth' between Rich Energy CEO William Storey and the Haas team, the controversial energy drink company is making waves in the motorsport world once again.

However, every bit earlier, it'due south non for all the right reasons, as the situation regards another 'are they or aren't they?' sponsorship organisation betwixt Rich Free energy and a racing team.

In British Superbikes, the OMG Racing Yamaha squad have carried Rich Energy sponsorship and their familiar blackness and gilded livery since early on 2020.

Earlier this week, the Rich Energy Twitter account (which is unverified, but is patently controlled by Storey) tweeted to say that the sponsorship organisation between their visitor and the OMG Racing team is at an end.

"Rich Free energy would similar to give thanks @OMGRacingUK for their work in the last ii years but the whole agreement is now at an terminate. Rich Energy is expanding its portfolio in many spheres including sport."

PUBLIC ANNOUNCEMENT: Rich Energy would like to give thanks @OMGRacingUK for their work in the terminal 2 years merely the whole agreement is at present at an end. Rich Energy is expanding its portfolio in many spheres including sport. Rich Energy is now available straight at https://t.co/jYCeOPlg8A picture.twitter.com/83Ak4wP8oc

— Rich Energy HQ (@rich_energy) July 17, 2022

However, this annunciation from Rich Energy seems to be beyond the remit of Storey's control, with OMG Racing issuing a statement on Wednesday evening clarifying that the sponsorship of the BSB squad isn't straight with the drinks company.

"Following certain social media posts, press interviews, and publications over the final few days, the Rich Energy OMG Racing team would like to make a statement of facts regarding the sponsorship of the team in the Bennetts British Superbike Championship (BSB)," read the statement.

"Rich Free 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 Rich Energy brand owners.

"Rich Energy OMG Racing is sponsored by RichOMG Limited, the global sales and distribution rights holder for the drinks, Rich Energy (archetype) and Rich Energy Sugar-Complimentary.

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

Squad Argument from RICH Free energy OMG Racing Yamaha pic.twitter.com/rWPMFbXyF2

— RICH Energy OMG Racing Yamaha (@OMGRacingUK) July 20, 2022

PlanetF1 has approached Storey for annotate on the issue.

Speaking to Superbike.co.uk, Storey allegedly said: "OMG spent months prevaricating and non engaging with our lawyers. Our due diligence on them besides threw up some rather worrying facts which we availed them of. They didn't respond.

"It became clear that they could not conclude the deal we discussed in Nov 21. Nosotros spent many months waiting for them which was a waste of time.

"They could not practice a deal and our corporate partners indicated they were not advisable to exist involved with the brand. We so heard first-hand from people in the paddock that OMG had been misrepresenting their position with Rich Free energy and slandering the owners. This rendered their position tenuous at best."

Asked about whether the drinks visitor's ignominious split from Haas might result in fans believing a repeat of unusual behaviour, Storey said "the truth" will out.

"Firstly, if the truth over the Haas debacle was public (which I promise it volition be in due course) and then nobody would even suggest any criticism of Rich Energy," he claimed.

"Any proffer of 'nefarious' activity is slander and palpably untrue.

"Secondly, I accept outlined that OMG failed to deed in a professional person way including failing to respond to basic requests from our lawyers for many months.

"For that reason, and many others including acting in bad faith, this has happened. The whole agreement with them has come up to an end. They knew this many weeks ago, yet failed to engage in any effective talks. Rich Free energy expects integrity and professionalism from all our partners."

The controversial businessman claimed in early 2021 that Rich Free energy would be a prominent sponsor on the F1 grid for the 2022 season, following the arrival of an "ally" into another team.

Posting on Twitter at the time, Storey said: "I'm delighted to denote that Rich Energy is coming back to Formula 1.

"Unfortunately, due to poor functioning on and off the rails [in 2019], regrettably I had to sack Haas.

"In the last year (2020), we've worked incredibly difficult to pb a renaissance of Rich Energy worldwide where millions of consumers are trying our drink.

"Since leaving Formula 1 I have worked very diligently to engineer a return and I take noticed that there is actually a new financial reality in Formula 1.

"A strategic ally of Rich Energy has agreed to buy a bulk stake in an existing team. We did explore, with the new regulations, really entering our own team for 2022, which would be Rich Free energy Formula 1 team.

"But a friend of ours has agreed a deal for a majority stake in a F1 team, and nosotros will become a partner of that team for 2021. Once that conquering is announced we volition become the championship sponsor for 2022."

However, despite Storey's comments, none of these claims are yet to come to pass.

Source: https://www.planetf1.com/news/rich-energy-back-in-the-headlines/

Posted by: warnerwujjok.blogspot.com

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