At a time Red Bull is facing punishment for exceeding the budget cap, it is worth remembering that a number of teams were never likely to be operating anywhere near the maximum allowed.

One such team is Haas, which, already struggling on a relative shoestring, was further hit when it had to drop Uralkali as its title sponsor after Russia waged war on Ukraine earlier this year.

Though the American outfit insisted that the loss of Uralkali would not be that damaging, the lack of updates alone was clear proof that the team had money issues, a situation reinforced by the obvious pain on the faces of Guenther Steiner and Gene Haas every time Mick Schumacher crashed out.

Never in danger of being investigated Red Bull-style for exceeding the $140m cap, Steiner admits that the new title sponsorship deal with MoneyGram will allow Haas to operate at a level much closer to the limit and thereby be more competitive.

"With this deal, we can go to the budget cap, and then everybody is on a similar platform," the Italian told reporters at a press conference to confirm the deal. "Obviously the big teams, they can spend outside of the budget cap more.

"I always say with the budget cap, in the mid- to long-term, there shouldn't be this problem anymore that you cannot fight for podiums," he added. "And that is what we want to do. With this deal, I think we make that step that in a few years, we can fight for podiums.

"I'm not promising that for next year," he continued, "because we just came back from two years that were very bad for us, and we recovered pretty well and we will continue to improve."

With Kevin Magnussen continuing with the team in 2023, Haas has yet to confirm the identity of his teammate.

While Mick Schumacher remains in the frame, providing he can keep it out of the barriers and bring home some points, Daniel Ricciardo is one of several other drivers being linked with the team.

Ever the realist, Steiner admits that the new deal isn't a magic bullet for the team which is currently battling AlphaTauri for eighth in the standings.

"It's down to us to do a good job," he admitted. "As you know, I've never been afraid to work hard or ask the team to work hard to achieve certain things. That's what we continue to do as long as I'm here."

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