A multinational business dealing in money transfers, MoneyGram became Haas's title sponsor for the 2023 season and beyond on a multi-year deal.
The deal emerged after the team had ended its deal with previous title sponsor Uralkali - a Russian chemicals giant owned by Dmitry Mazepin, father of former driver Nikita - ahead of the 2022 season in response to the outbreak of the Russo-Ukrainian war.
Haas also faced an early end to a title sponsorship deal in 2019, when the team terminated its controversial deal with beverage company Rich Energy.
Reflecting on his second stint in F1, Magnussen felt he would be enjoying himself more with a competitive car, but that the thrill of the chase had kept him hungry for success.
He explained that the MoneyGram deal had ensured reasons to be optimistic within the Haas team and that the partnership had "changed the situation" for those involved.
"Of course, it's more fun when you're strong and competitive, but there's also something satisfying in the chase," Magnussen said. "I know with this team that it goes in waves sometimes, and comes and goes.
"I think at the moment we're in a sort of a bit of a place where we certainly want to move forward.
"And I think where we are as a team right now, there's a lot of reason to be optimistic and I think the future is looking very bright for us.
Source: Autosport