Cryptocurrency betting and casino platform Stake will feature prominently in the next two years of Formula 1 after securing naming rights to Sauber’s F1 car.
The firm takes over from Alfa Romeo, which did not extend its sponsorship of Sauber’s C44 past 2023. The Sauber is set to be rebranded as Audi’s factory team in 2026 - leaving a two-year gap for other sponsors to step in on an interim basis.
Related: How OKX convinced F1 star Daniel Ricciardo it’s safe to promote crypto
Stake and its live-streaming platform Kick.com first featured on Sauber’s vehicle in 2023 through initial sponsorship deals. The team will be officially known as Stake F1 Team Kick Sauber and will launch its 2024 season at an event in London in February 2024.
Stake F1 Team, we're taking over the grid
— Stake.com (@Stake) January 1, 2024
Read more: https://t.co/6GBS77fBSE pic.twitter.com/yZT9JHfQYP
Canadian rapper Drake took part in a New Year’s Day unveiling of the rebranding and is expected to feature at select F1 races through the 2024 season.
Motorsport.com also highlights that Kick.com will have naming rights to the chassis of Sauber’s car, named the Kick Sauber C44. F1 teams are also expected to build and maintain their vehicles, meaning Stake has become an F1 vehicle manufacturer.
Former Mercedes driver Valterri Bottas and former F2 star Zhou Guanyu will continue as the team’s drivers.
Formula 1 has attracted several cryptocurrency exchanges and businesses in recent years, with various companies looking to tap into the sport’s global fan base through advertising and sponsorship deals.
Related: F1’s Daniel Ricciardo cruises into crypto at Token2049
OKX first partnered with McLaren in May 2022 as a primary partner of its F1 team, and its branding featured prominently on the MCL60 racing car in 2023.
Crypto.com has been a prominent sponsor of Formula1 since 2021, with its branding featuring at Grand Prix circuits around the globe over the past few race calendars. The cryptocurrency wallet and exchange operator also sponsors the Aston Martin Aramco Cognizant F1 team.