Formula One is heading into the new year with a partner, as betting and online casino brand Stake will become the Sauber Motorsport team’s exclusive title sponsor for the 2024 and 2025 seasons.
The Sauber F1 team will now be titled the ‘Stake F1 Team’ for the upcoming seasons and has undergone a significant rebranding effort to complement the move, which includes changes in social media and media handles.
The Stake F1 Team aims to break away from the “conventional concepts of sports and entertainment sponsorship”, aiming to redefine marketing activations.
Edward Craven, Co-Founder of Stake, said: “We are thrilled with the opportunity to bring an electrifying and brand-new identity into our Formula One team, kickstarting the F1 season with a bold team name, Stake F1 Team.
“Fuelled by deep passion for speed, innovation, and pushing boundaries, we are now ideally positioned to take the team to unprecedented heights from 2024 and beyond. The upcoming years will be a thrilling ride with some mind- blowing activations planned that will redefine excitement on and off the track.
“So, brace yourselves and stay tuned, as Stake F1 Team accelerates towards an exciting future.”
Founded in 2017, Stake has established itself as a prominent online betting and casino company which, over the years, has integrated itself into the world of sports and entertainment through sponsorship deals with the likes of music artist Drake, Everton FC, the UFC; and more.
In 2023, the brand’s inaugural year in the Formula One ecosystem, Stake made its mark via a series of activations which focused on cross collaboration with its other existing brand partnerships.
Having reached a broad demographic, Stake is planning a series of high-profile experiences to take place during the 2024 F1 calendar – starting with the launch of the new C44, in February.
Alessandro Alunni Bravi, Team Representative, commented: “Last season represented the start of Stake’s journey in Formula One, and the brand’s new role headlining Stake F1 Team represents the natural and exciting next step on this path.
“Stake not only successfully tapped into Formula One’s growing fan base to enhance its own community; but also introduced a completely new audience to the sport, something that benefitted not only our team but also everyone else in F1.
“2024 will be a new page and the chance to do more, better, and reach even farther: we are looking forward to an even more exciting calendar of events in this new season.”
Akhil Sarin, Chief Marketing Officer of Stake, added: “The past season has been a testament to the marketing and media value that Stake has brought to the F1 team, especially within the digital landscape.
“The first phase of this partnership has succeeded in increasing global brand awareness for all stakeholders. At Stake, we are prepared to take the team’s reach, fanbase and visibility to unprecedented levels.
“Our strategy will be focused on delivering unforgettable experiences that highlight our unwavering commitment and dedication to innovation, entertainment, and global connectivity.”
