The shareholders behind the Rich Energy brand have described the claim that it had terminated its deal with the Haas Formula 1 team as "the rogue actions of one individual".
A statement was posted on the energy drinks company's Twitter account in the lead-up of the British Grand Prix that suggested Rich had ended its title sponsorship agreement with Haas, citing the American outfit's form - plus "the politics and PC attitude in F1" - as the reason.
But shareholders were understood to be keen to save the relationship with Haas on Thursday morning, while team principal Gunther Steiner said Haas's cars would run in Rich Energy branding as normal at Silverstone.
A rebuttal statement, attributed to "the shareholders who own the majority of Rich Energy", has now been issued to counter the earlier tweet, which as of Thursday afternoon remains the most recent post on the firm's Twitter account.
"We wholeheartedly believe in the Haas F1 Team, its performance, and the organisation as a whole and we are fully committed to the current sponsorship agreement in place. We also completely believe in the product of Formula 1 and the platform it offers our brand," the shareholders' statement read.
"Clearly the rogue actions of one individual have caused great embarrassment. We are in the process of legally removing the individual from all executive responsibilities.
""They may speak for themselves but their views are not those of the company."
The statement also described the previous tweet as "regrettable" and having come from "an unauthorised source".
"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," the statement concluded.
The "individual" behind the "rogue actions" in question was not directly named in the statement.
Sources previously suggested to Autosport that the tweet announcing the termination of the deal had been either written or authorised by company CEO William Storey.
Get unlimited access to the world’s best motorsport journalism with Autosport Plus