Crypto Players Take the Wheel II

Sauber has been rebranded as Stake F1 Team after the crypto betting and casino platform secured naming rights for the 2024 and 2025 Formula 1 seasons. This move positions Stake as a significant player in Formula 1, sponsoring Sauber’s F1 car. 

Following Alfa Romeo’s decision not to renew sponsorship beyond 2023, Sauber underwent rebranding and will transition to Audi’s official team in 2026. Stake, along with its live-streaming platform Kick.com, had previously sponsored Sauber in 2023, and the team is now officially known as Stake F1 Team Kick Sauber.

Canadian rapper Drake participated in the New Year’s Day unveiling of the rebranding and is anticipated to make appearances at select F1 races in 2024, bringing a touch of celebrity to the team.

Kick.com will also hold the naming rights to Sauber’s car chassis, designated as the Kick Sauber C44, marking Stake’s entry into F1 vehicle manufacturing.

The team will continue with its current drivers, former Mercedes racer Valtteri Bottas and ex-F2 standout Zhou Guanyu. The broader context reveals an increasing trend of cryptocurrency exchanges and businesses entering Formula 1. 

OKX became a primary sponsor of McLaren’s F1 team in May 2022, and Crypto.com has been a notable sponsor since 2021, supporting the Aston Martin Aramco Cognizant F1 team. 

Furthermore, in March 2023, cryptocurrency exchange Kraken signed a significant sponsorship deal with the Williams Racing Formula One team, reflecting the growing presence of crypto players in the sport.