Streaming platform Kick secures chassis naming rights for the 2024 season.
Stake, the world’s leading betting, entertainment, and lifestyle brand, announced a two-year exclusive title partnership with Swiss-based Motorsport brand Sauber. Now, Sauber will race Formula One as the Stake F1 Team and will compete in F1 in the new identity in 2024 and 2025.
The development follows the partnership in 2023 when Sauber went by Alfa Romeo F1 Team Stake. While the exact financial details of the deal are yet not out, the Australian-Curaçaoan online casino company reportedly paid $95 million for Sauber’s F1 sponsorship for the 2023 season.
Meanwhile, streaming giant Kick has secured the naming rights to the chassis of Sauber’s upcoming Formula One contender for the 2024 season, officially known as the KICK Sauber C44.
“In announcing this partnership, we have become the exclusive Title Partner for the 2024 and 2025 Formula One seasons. With this will come unique and breathtaking activities in some of the world’s most vibrant and exciting cities,” Stake said in a statement.
Redefining Marketing Activation
The partnership paves the way for Stake to take over the team’s social media handles as @stakef1team as part of the team’s new fan-centric branding.
“Stake F1 Team will mark the beginning of a brand new, dynamic and exciting era – one that breaks away from conventional concepts of sports and entertainment sponsorship. It aims to redefine marketing activations in an exciting manner, leaving no tradition untouched and challenging the status quo,” Sauber Group stated in a press release on January 1, 2024.
Stake’s growing involvement in Formula One adds to its impressive list of partners, including famous names like Canadian superstar Drake, Everton Football Club, and the UFC.
“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,” Edward Craven, Co-Founder of Stake stated in the Sauber Group PR.
Stake’s LATAM foray
Stake acquired Betfair Colombia in November 2023, paving the way for its foray into the Latin American market, known to be the first regulated market in the region.
Last month, it partnered with iGaming solution provider TG Lab, allowing Stake to leverage its agile and scalable iGaming and sportsbook platforms with customizable front-end features.