I believe the entire expense is already budgeted as sales and marketing for Haas CNC, so they might be able to use most of this as a tax write-off. The team exists for Haas CNC sales and marketing teams to use for B2B networking, schmoozing potential customers in the hospitality area at races, and other promotional purposes. But you're right, why not get more sponsors to help ease the burden or increase the budget?What surprised me the most is the lack of sponsors, even after 3 years of them doing quite well.
Gene said he could have spent this much money in other promotional areas but starting an F1 team actually looked to present a good return (hah!). I like Haas, but the reason from the top for entering F1 is not primarily passion, and the livery seems to reflect that.