In addition, the new team cars with rebranded livery will be unveiled ahead of next year's season. The new team name will officially take effect in 2023.

The two organizations have signed a multiyear agreement for MoneyGram to become the lead partner of Haas F1 Team, a fan favorite in the F1 World Championship, the world's most prestigious and popular motorsports competition with a global audience of more than 500 million. 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.' 'Since our entrance into the F1 World Championship in 2016, Haas F1 Team has earned a reputation of strength, agility and resilience. Vergne has also stayed race sharp by competing in Formula E, finishing the inaugural season in seventh place with two podium finishes.'We are pleased to welcome such an incredible brand like MoneyGram as our new title sponsor,' said Gene Haas, Founder and Chairman of Haas F1 Team. The only thing working against Vergne is his lack of experience of the current breed of hybrid power units, though his test work for Ferrari - which has involved simulator sessions at Maranello - negates this to a certain extent. The Frenchman won't lack motivation either - having lost his Toro Rosso seat (somewhat harshly in the eyes of many) to Russian teen Daniil Kvyat at the end of 2013, he'll no doubt be keen to show the Red Bull hierarchy they were wrong to let him go. With two top-six finishes across 58 starts, as well as an enviable record when team mate to Daniel Ricciardo, Vergne would certainly bring pedigree to the fledgling squad, as well as the kind of experience no ‘homegrown' driver - let alone another 25-year-old - could currently offer.

The former Toro Rosso ace is a frontrunner for a seat at Haas thanks to his test driver role at Ferrari, who will be providing the American team's power units.

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