Crypto-first operator to become sole title sponsor as the F1 team’s name changed to Stake F1 Team for the 2024 and 2025 seasons
Stake has penned a deal with Sauber Motorsport’s Alfa Romeo F1 team in a move which will see the F1 team rebranded for the 2024 and 2025 seasons.
The new deal will see the team renamed Stake F1 Team and the team’s social media accounts changed to @stakef1team to reflect the new branding.
The rebrand aims to keep “fans front and centre by bringing a fresh perspective on the intersection of sports and entertainment”.
Stake is currently planning a number of experiences for fans across the 2024 racing calendar which contains 24 races, beginning with the launch of the new C44 car in February.
Stake and Sauber originally teamed up last season, with the operator securing title sponsorship rights which saw the team named Alfa Romeo F1 Team Stake.
Alessandro Alunni Bravi, team representative of the Stake F1 Team, said: “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.”
Stake co-founder Ed Craven added: “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.”
Elsewhere, Stake rose by three places in the EGR Power 50 Rankings 2023 to number 28, following its raft of sponsorship deals and its launch in Colombia via its Betfair acquisition.