But that's really where the intrigue begins, as the company's tweet was loaded with some massive backhanded comments on the sport, citing "politics and PC attitude" as "inhibiting" business.
Despite the contract termination claims, the team's motorhome in the paddock for this weekend's British Grand Prix continues to bear the Rich Energy logos.
That statement also said the individual, understood to be Storey, was being removed from his executive responsibilities.
Wednesday's Tweet had declared: "Today rich_energy terminated our contract with HaasF1Team for poor performance".
Former champions Red Bull Racing are third in the championship and won the Austrian grand prix at the end of last month.
The beverage firm became Haas's title sponsor this season and claimed the team would be competing directly with Red Bull on and off the track. The agreement saw its cars change their livery to black and gold, with prominent Rich Energy branding on the engine cover, nose and front wing endplates.
Haas are ninth out of the 10 teams, albeit only six points behind sixth-placed Alfa Romeo.
In a statement, Steiner said: "Rich Energy is now the title partner of Haas F1 Team".
"You can do without it but it's not like I'm up at night thinking about it", he said. We get on with our job and it's more important to get the job back to where we want to be.
"I would like to tell you more, and I hope you respect that", Steiner said when asked by Autosport what he could say.
Haas released a statement on behalf of Rich Energy's apparent majority shareholders that attempted to salvage the relationship with the team, and accused a "rogue" individual of being responsible for the original tweet. We also completely believe in the product of Formula One and the platform it offers our brand.
"We wish to confirm our commitment to the Haas F1 Team, Formula 1 and to thank the Haas F1 Team for their support and patience whilst this matter is dealt with internally".
- Mattel are releasing a special David Bowie Ziggy Stardust Barbie doll
- Somalia: blast, armed attack leaves 10 dead
- Pence views overcrowded, bad-smelling facility for detained migrants in Texas
- Pakistan sacks judge accused of 'blackmail' in ex-PM Sharif case
- Goa Congress Rebels "Came To Us For Development": BJP Rejects Allegations
- Trump complains China hasn't met G20 promise on farm goods purchase
- Teen bomber kills at least five at eastern Afghanistan wedding
- Celtics to waive F Yabusele
- HBO Max is WarnerMedia's Netflix-competitor
- India, US agree to address mutual trade concerns