Crypto Betting Company Stake Acquires Naming Rights for Sauber’s F1 Team

Stake, a cryptocurrency betting and casino platform, has acquired the naming rights to Sauber’s Formula 1 team for the 2024 and 2025 seasons. This deal leads to the rebranding of Sauber as the Stake F1 Team, marking a significant change in the team’s identity. This development comes after Alfa Romeo did not renew its sponsorship of Sauber’s C44 car past 2023. Sauber is scheduled to become Audi’s factory team in 2026, creating an opportunity for interim sponsors like Stake.

Stake’s involvement with Sauber began in 2023 through initial sponsorship deals, including their live-streaming platform, Kick.com. The team will now be officially known as Stake F1 Team Kick Sauber, and they plan to launch their 2024 season with an event in London in February 2024. The unveiling of this rebranding was celebrated on New Year’s Day, with Canadian rapper Drake, a brand ambassador for Stake, participating in the event. He is also expected to appear at select F1 races throughout the 2024 season.

The agreement extends to naming rights for Sauber’s car chassis, which will be known as the Kick Sauber C44. This move underlines Stake’s entry into F1 vehicle manufacturing, as teams are responsible for building and maintaining their cars. The Stake F1 Team will continue with its current drivers, former Mercedes driver Valterri Bottas and former F2 star Zhou Guanyu.

Formula 1 has increasingly attracted interest from cryptocurrency companies seeking to leverage the sport’s global audience. Other notable partnerships include OKX’s collaboration with McLaren, beginning in May 2022, and Crypto.com’s ongoing sponsorship since 2021, which includes their association with the Aston Martin Aramco Cognizant F1 team. These collaborations reflect the growing trend of cryptocurrency businesses investing in high-profile sports sponsorships to expand their reach and visibility.