Cryptocurrency Platform Stake Secures Sauber F1 Naming Rights

Based on the fact that it has secured the naming rights to Sauber’s Formula One car, the cryptocurrency betting and casino platform Stake will play a significant role in Formula One over the next two years.

Due to Alfa Romeo’s decision to not renew its sponsorship of Sauber’s C44 beyond the year 2023, the company has taken over the sponsorship. Audi’s factory team is expected to rename Sauber in 2026, creating a two-year gap for other sponsors to step in and provide short-term support.

Stake and its live-streaming network Kick.com first appeared on Sauber’s vehicle in 2023 during initial sponsorship negotiations. The team’s debut event for the 2024 season, formally named Stake F1 Team Kick Sauber, will take place in London in February 2024.

Canadian musician Drake is expected to make appearances at several Formula One races leading up to the 2024 season, including the reveal of the rebranding on New Year’s Day. Motorsport.com also highlights that Kick.com will obtain the naming rights to Sauber’s car chassis, which will be named the Kick Sauber C44.

Stake promoted the launch of the Stake F1 Team with Canadian rapper and brand ambassador Drake on Instagram on New Year’s Day.

Formula One teams are also expected to construct and maintain their vehicles, which has led Stake to become a manufacturer of Formula One vehicles. Both Valterri Bottas, a former driver for Mercedes, and Zhou Guanyu, a former star in Formula Two, will continue to serve as the team’s drivers.

Over the past several years, Formula One has attracted several cryptocurrency exchanges and businesses. These businesses are attempting to capitalize on the sport’s global fan base by negotiating advertising and sponsorship arrangements.

OKX became a main partner of McLaren’s Formula One team in May 2022, and the company’s branding was prominently featured on the MCL60 racing car in 2023.

This partnership was the first of its kind. Since 2021, Crypto.com has sponsored Formula One, showcasing its branding at Grand Prix tracks worldwide during the most recent race calendars.

Additionally, the Bitcoin wallet and exchange operator is the sponsor of the Aston Martin Aramco Cognizant Formula One Motorsport team.