F1 News: Alfa Romeo Introduces New Title Sponsorship Deal With Crypto Company
Alfa Romeo has announced a multi-year title sponsorship deal with Stake, a leading crypto casino and sports betting platform. The partnership marks a new identity for the team ahead of the 2023 F1 season and will see the team rebranded as Alfa Romeo F1 Team Stake.
The announcement comes after the team parted ways with previous title sponsor Orlen. While the team had initially removed Orlen from their title partner list, they caused confusion among fans when they put the Polish company back on the roster a day later.
Stake has already established a presence in sports sponsorship, having previously partnered with F1 driver Pietro Fittipaldi and his brother Enzo, who races in Formula Two.
Alessandro Alunni Bravi, Managing Director of Sauber Group, which operates the Alfa Romeo Racing team, welcomed the new partnership and said:
“We welcome Stake as a new co-title partner for the team in what represents the start of a new era for us both. 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.”
Co-Founder of Stake, Bijan Tehrani, stated:
“We could not be more thrilled to join a legendary F1 team that shares with us the same ambitions of growth and success. 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.”
This partnership marks a new era for both Alfa Romeo Racing and Stake and is expected to bring increased exposure and engagement for fans of the F1 team and the sport overall.