The move is a continuation of Stake’s partnership with Sauber that was first established in 2023, which saw the casino operator become the team’s co-title partner.
Streaming platform Kick.com, which is owned and operated by Stake’s parent company Easygo, has also acquired the naming rights to the team’s chassis, where its branding will continue to appear after making its first appearances in 2023.
The rebranding of Sauber’s team to Stake F1 Team will “mark the beginning of a brand new, dynamic and exciting era,” according to the companies, while moving away from conventional concepts of sports sponsorship.
The partnership aims to “redefine marketing activations in an exciting manner,” while breaking from tradition and challenging the status quo, the firms added.
One of Stake’s existing major sponsorship partners, Canadian rapper Drake, is already involved with the activation, having announced the new team name in a video posted to Sauber Motorsport’s YouTube channel yesterday (1 January).
Stake F1 Team “promises to be one of the most engaging teams on the grid,” Stake said, and “is crafted with the aim of keeping the fans front and centre – by bringing a fresh perspective on the intersection of sports and entertainment.”
The rebranded F1 team joins Stake’s roster of existing sports sponsorships including Everton Football Club and the UFC.During 2023, Stake’s first year as part of the F1 ecosystem, the brand “made its mark via a series of unique activations which have focused on cross collaboration with its other existing brand partnerships,” the firm said.
Last year’s activities helped the business to reach a broad demographic beyond the traditional F1 fanbase, it added, while it is also “planning a series of high-profile experiences to take place during the 2024 F1 calendar.”
The first of those is expected to be the unveiling of the team’s new C44 F1 car in February.
“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,” said Stake co-founder Ed Craven.
“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 mindblowing 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!”
Stake CMO Akhil Sarin added that the 2023 season was “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 the Stake/Sauber partnership was to increase global brand awareness, Sarin added, while the company is now “prepared to take the team’s reach, fanbase and visibility to unprecedented levels.”
Stake F1 Team representative Alessandro Alunni Bravi added that Stake’s new role as the team’s exclusive title partner represents “the natural and exciting next step” of the companies’ existing partnership.