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Stake F1 Team

Stake respond to threat of legal challenge over new F1 team name

Stake is adamant that "everything is above board" with its new F1 team name despite suggestions of a potential legal challenge.

C44 ST Front Stake BOT 16 9
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To news overview © Stake F1 Team

The online betting platform thrust itself firmly into Formula 1's mainstream on Monday as the team held a lavish launch of its new car at London's Guildhall, with no expense spared.

In taking over exclusive title rights and becoming Stake F1 Team has led to the Hinwil-based operation conflicting with the Swiss Federal Casino Commission's regulations.

Switzerland, as with many countries around the world, including Australia where Stake has its headquarters, has outlawed advertising of online gaming and betting institutions.

A report this week aired on Schweizer Radio und Fernsehen (SRF), a Swiss broadcasting company, suggested Stake could face a fine of 500,000 Swiss francs (£454,000) for breaching the regulations.

Patrick Kraeuskopf, a professor of competition law at the Zurich University of Applied Sciences, said on the SRF report that while "sponsoring would be allowed", in the case of the F1 team "the brands Stake and Sauber are so linked together, or the term Stake is so strongly imprinted in the minds of viewers, that we have probably crossed the red line into unauthorised advertising".

A Stake spokesperson, however, speaking to Racing News 365, has allayed any fears of a potential legal case being launched against it.

"We are in close contact with the Swiss Commission, and we are following all the regulations," said the spokesperson.

"It is a completely routine situation. Everything is above board, above ground, and the rules are being applied.

"It is the same procedure as last year with the Swiss Commission when Stake joined us as a partner.

"And our situation is no different to that of Williams when it had to change its livery on occasion for certain grands prix."

That was regarding the fact alcohol advertising is also banned in certain countries.

Stake has made no secret it will have to change its livery at grands prix over the next two years of its partnership with the gambling platform due to advertising bans.

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