Crypto Players Take the Wheel! Stake Grabs F1 Team Naming Rights

Sauber is now known as Stake F1 Team following the acquisition of naming rights by the crypto betting and casino platform for 2024 and 2025.

The crypto betting and casino platform, Stake, will play a significant role in Formula 1 for the upcoming two seasons as it has secured the naming rights for Sauber’s F1 car.

Alfa Romeo, the previous sponsor, did not renew its sponsorship agreement with Sauber beyond 2023. Consequently, Sauber will undergo a rebranding as Audi’s official team in 2026, creating a two-year window for interim sponsors.

Stake, along with its live-streaming platform Kick.com, first appeared on Sauber's vehicle in 2023 due to initial sponsorship agreements. The team will now be formally recognized as Stake F1 Team Kick Sauber and is scheduled to kick off its 2024 campaign with an event in London in February.

Canadian rapper Drake participated in the New Year’s Day announcement of the rebranding and is anticipated to make appearances at specific F1 races throughout 2024.

Additionally, Motorsport.com notes that Kick.com will hold the naming rights to Sauber's car chassis, designated as the Kick Sauber C44. Given that F1 teams are responsible for designing and maintaining their cars, Stake effectively enters the realm of F1 vehicle manufacturing.

The team will retain former Mercedes racer Valterri Bottas and ex-F2 standout Zhou Guanyu as its drivers.

In recent times, Formula 1 has seen an influx of cryptocurrency exchanges and enterprises, with many seeking to engage the sport's vast global audience through advertising and sponsorship partnerships.

In May 2022, OKX became a primary sponsor of McLaren's F1 team, prominently featuring its branding on the MCL60 race car in 2023.

Since 2021, Crypto.com has been a notable sponsor in Formula 1, with its branding visible across various Grand Prix circuits worldwide in recent seasons. The cryptocurrency wallet and exchange platform also supports the Aston Martin Aramco Cognizant F1 team.

Also in March 2023, Crypto exchange Kraken signed a multi-year global pact with Formula One team Williams Racing, marking the trading platform’s first major sponsorship deal.