Stake to Sponsor Alfa Romeo Formula One Team

Betting group Stake this week announced that they've secured a sponsorship agreement with Sauber Motorsport, and will become the title sponsor of the Alfa Romeo Formula One team for the upcoming season.

The agreement will see Stake serving as the sponsor for 24 races this season, with the company working the team to promote both the brand and the team around these events. The exact ways in which the brand will be promoted weren't made available, but options include street demos with the team, or designing a special car livery for events.

Stake has been busy with sport sponsorships, having recently inked agreement with the UFC and Everton FC, while also upgrading streaming capabilities for events.

Commenting on the deal Sauber Group CEO Andreas Seidl said, "Formula One has seen a huge increase in interest over the last few years and the arrival of brands such as Stake are representative of the massive exposure our sport can offer.

"We are excited to join such a portfolio of sports and entertainment brands and we're looking forward to the activation programme that Stake will unveil for our fans."

Stake Co-Founder Bijan Tehrani also commented, noting: "Alfa Romeo F1 Team Stake will expand our opportunities for fan engagement through brand integration and activation. We are fully committed to enhancing race weekends by creating unique experiences for all Alfa Romeo F1 Team Stake fans, growing audience engagement in the digital arena."