Sauber has formally announced that it will be known as Stake F1 Team for the 2024 and 2025 Formula 1 seasons, before Audi's arrival.
After the withdrawal of Alfa Romeo as title sponsor, the team indicated late last year that it would be called Stake F1 Team Kick Sauber with two major sponsors in the official name.
However, cryptic messages on social media in the run-up to new year suggested another name was a possibility, which was announced on New Year's Day as being simply Stake F1 Team.
Stake, a betting, entertainment and lifestyle company joined the team as a sponsor for the 2023 season, and has expanded its role for 2024 to take over the exclusive naming rights.
The company also has links to Canadian rapper Drake and are the shirt sponsors of Everton Football Club in England's Premier League.
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"Last season represented the start of Stake’s journey in Formula 1, and the brand’s new role headlining Stake F1 Team represents the natural and exciting next step on this path," explained Team Representative Alessandro Alunni Bravi.
"Stake not only successfully tapped into Formula 1’s growing fan base to enhance its own community; but also introduced a completely new audience to the sport, something that benefitted not only our team but also everyone else in F1.
"We had the opportunity to participate in some incredible activations with some of Stake’s ambassadors, including Argentine football legend, Sergio Aguero and Indian-Canadian rapper Karan Aujla. 2024 will be a new page and the chance to do more, better, and reach even further: we are looking forward to an even more exciting calendar of events in this new season.”
Co-founder of Stake Edward Craven added that he felt the company's values were well in-tune with those of F1.
"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," he said.
"The upcoming years will be a thrilling ride with some mind-blowing 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."