Australian crypto casino signs sponsorship deal with Formula 1 team
Stake.com has signed a sponsorship deal with Alfa Romeo.
Australia.- Stake.com, an Australian crypto casino and sports betting platform, has signed a deal to become the lead sponsor of Formula 1 team Alfa Romeo. The size and duration of the sponsorship have not been announced, but the Sydney Morning Herald reports that the deal’s worth AU$140m (US$100m) over three years.
The Alfa Romeo Stake.com team is expected to debut at this year’s Melbourne Grand Prix in March. Alfa Romeo is a member of the Sauber team. The contract with Sauber is due to expire at the end of 2023, but Stake.com will retain naming rights after Alfa Romeo exits, sources said.
Bijan Tehrani, one of the founders of Stake.com, said: “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.”
Alessandro Alunni Bravi, managing director of Sauber Group and Team 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.”
Since its launch in 2018, Stake.com has signed several global sports deals. In 2022, it became the main partner and shirt sponsor of Premier League team Everton. It also sponsored Watford FC while it was in the EPL. The group has arrangements with Canadian hip-hop star Drake and several MMA and UFC fighters.