Cryptocurrency betting and casino platform Stake has obtained the naming rights for Sauber’s Formula 1 car for the 2024 and 2025 seasons.

On January 1st, Stake made an announcement revealing their transition into Formula One, as they will feature as the primary sponsor for Sauber’s C44, which will be rebranded as Audi’s factory team in 2026.

Stake F1 Team, we’re taking over the grid

Read more: https://t.co/6GBS77fBSE pic.twitter.com/yZT9JHfQYP

— Stake.com (@Stake) January 1, 2024

Having competed under the Alfa Romeo banner last year, Sauber is undergoing a rebranding following the departure of the Stellantis-owned brand. This comes after Alfa Romeo chose not to extend its sponsorship of Sauber’s C44 beyond 2023.

Stake F1 wrote in its blog, 

“In January 2024, we announced our biggest move to date: the Stake F1 Team. With this, we unveiled a brand-new identity for the team to create Formula One’s freshest and most exciting team on the Grid. Following a successful year with Alfa Romeo F1 Team Stake in 2023; that saw non-stop action both on and off the track, we have stood by our promise not just to take part, but to completely take over.”

The Sauber team will now be officially known as the “Stake F1 Team Kick Sauber,” and the car will carry the name “Kick Sauber C44.” The launch of the 2024 season is scheduled for an event in London in February 2024.

To promote the launch of the Stake F1 Team, Canadian rapper and brand ambassador Drake participated in promotional activities on Instagram on New Year’s Day. Notably, Stake is also known for sponsoring Premier League side Everton and boasting an endorsement deal with Canadian rapper Drake.

The team will continue with former Mercedes driver Valtteri Bottas and former F2 star Zhou Guanyu as its drivers.

Formula 1 Teams Embrace Cryptocurrency Sponsors: OKX, Crypto.com, and Stake’s KICK.com Drive Innovation in Racing

In recent years, Formula 1 has attracted several cryptocurrency exchanges and businesses, leveraging the sport’s global fan base through advertising and sponsorship deals.

OKX initially partnered with McLaren in May 2022, becoming a primary partner of its F1 team. The OKX branding was prominently featured on the MCL60 racing car during the 2023 season.

Crypto.com has also been a notable sponsor in Formula 1 since 2021, with its branding visible at Grand Prix circuits worldwide on various race calendars. Also, the cryptocurrency wallet and exchange operator extended its sponsorship to the Aston Martin Aramco Cognizant F1 team in the same year.

Formula 1, the high-profile international racing series, has indeed been providing Crypto.com with significant visibility and exposure to a global audience. The collaboration with the Aston Martin team, known for its luxury fast cars and popularized by the James Bond movie series, is also particularly noteworthy. The sponsorship deal coincided with Aston Martin’s return to Formula 1 racing with its own team after a hiatus of 61 years, making it a pivotal year for both Crypto.com and Aston Martin in the realm of Formula 1.

Previously, Stake had sponsored Sauber’s vehicle in 2023 through initial sponsorship deals. Now, the partnership has evolved, and Stake will play a more prominent role as the headline partner, solidifying its presence in the high-profile sport. Stake’s logos were featured on the C43 car at selected events during the 2023 season.

In addition to its role as the headline partner for the Sauber F1 Team, Stake is also associated with the team’s live-streaming platform, Kick.com. The Kick.com logos were featured on the C43 car in 2023, and for the 2024 season, the partnership will take a step further with Kick.com acquiring the naming rights to Sauber’s next F1 car, which will be known as the “Kick Sauber C44.”

Alessandro Alunni Bravi, a representative of the team, expressed excitement about the evolution of Stake’s journey in Formula One, culminating in the headline role for the Stake F1 Team. The partnership signifies a natural progression for Stake, aligning the brand with the high-profile world of Formula One.

Sauber finished ninth in the Constructors’ Championship in the previous season, and the collaboration with Stake represents an effort to enhance fan engagement and explore innovative avenues in the realm of motorsports.

The post Stake Secures Naming Rights for Sauber’s Formula 1 Car in Multi-Year Deal appeared first on Cryptonews.