Stake Acquires Naming Rights to Sauber's F1 Car as Crypto Influence in Motorsport Grows
Summary:
Stake, a cryptocurrency betting and casino platform, has secured the naming rights to Sauber's Formula 1 car for the next two years, following Alfa Romeo's decision not to extend its sponsorship. Along with its live-streaming platform Kick.com, Stake first featured on Sauber's vehicle in 2023 and will now become an F1 car manufacturer, continuing with drivers Valterri Bottas and Zhou Guanyu. This move follows a recent trend in the cryptocurrency industry's investments in Formula 1, with numerous crypto companies leveraging the sport's global reach for sponsorship and branding opportunities.
Stake, a leading cryptocurrency gambling and casino platform, has obtained the naming rights for Sauber's Formula 1 car for the upcoming two years. This comes after Alfa Romeo decided not to continue its sponsorship of the Sauber C44 beyond 2023. Before transforming into Audi's official team in 2026, Sauber will accommodate various interim sponsors.
Stake and its live-streaming counterpart, Kick.com, initially appeared on Sauber's vehicle back in 2023 with a sponsorship agreement. The newly formed team, to be known as the Stake F1 Team Kick Sauber, is set to launch its 2024 season at a February event in London.
Canadian rapper Drake was present at the New Year’s Day unveiling of the new branding, and he is also anticipated to make appearances at several F1 races throughout 2024. The new Stake F1 Team was promoted with the help of the rapper, who also serves as the brand ambassador, on an Instagram post on New Year's Day.
Moreover, Kick.com will gain the naming rights to Sauber’s car chassis, dubbed Kick Sauber C44. With F1 teams responsible for constructing and sustaining their cars, Stake now effectively becomes an F1 car manufacturer.
The team’s drivers will continue to include ex-Mercedes racer Valterri Bottas and the former F2 standout Zhou Guanyu.
Formula 1 continues to draw numerous cryptocurrency companies, as these firms aim to reach the sport's global audience through marketing and sponsorship agreements. OKX initially joined forces with McLaren in May 2022, becoming a principal partner of its F1 team, and its branding was prominently displayed on the MCL60 race car in 2023.
Crypto.com has been a significant backer of Formula 1 since 2021, with its name seen on Grand Prix circuitry worldwide over several racing seasons. The cryptocurrency wallet and exchange provider further sponsors the Aston Martin Aramco Cognizant F1 team.
Published At
1/2/2024 10:43:39 AM
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