Crypto betting firm Stake secures naming rights for Sauber’s F1 team
Cryptocurrency betting and casino platform Stake will be prominent in Formula 1 over the next two years after securing the naming rights for the Sauber F1 car.
The company began its sponsorship of Sauber's C44 in 2015. Alfa Romeo will take over if they don't extend it to 2023. Sauber is set to become an Audi factory team in 2026 – leaving a two-year gap for other sponsors to step in in the interim. .
Related: How OKX Convinced F1 Star Daniel Ricciardo That Crypto Promotion Is Safe
Stake and its live streaming platform Kick.com will debut on a Sauber vehicle in 2023 with its first sponsorship deals. The team is officially known as the Stakes F1 Team Kick Sauber and will start the 2024 season with an event in London in February 2024.
Stakes F1 Team, we're taking over the grid.
Read more: pic.twitter.com/yZT9JHfQYP
— Stake.com (@Stake) January 1, 2024
Canadian rapper Drake took part in the New Year's celebrations and is expected to perform at selected F1 races until the 2024 season.
Motorsport.com also highlights that Kick.com will have the rights to the chassis of the Sauber car named Kick Sauber C44. F1 teams are expected to build and maintain their vehicles, meaning that Stakes has become an F1 vehicle manufacturer.
Former Mercedes driver Valtteri Bottas and former F2 star Zhou Guanyu will continue as drivers for the team.
Formula 1 has attracted a number of 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 travels to crypto Token2049
OKX first partnered with McLaren as the F1 team's main partner in May 2022, and the brand will feature prominently on the MCL60 race car in 2023.
Crypto.com is a prominent Formula1 sponsor from 2021, with the brand at Grand Prix circuits around the world over the last few racing calendars. The cryptocurrency wallet and exchange operator also supports the Aston Martin Aramco Cognizant F1 team.
Magazine: Top 10 long reads about crypto in 2023
