The end of Alfa Romeo’s time in Formula 1 has led to a complete rebranding of the Sauber-run constructor to become Stake F1 Team.

Stake will be the title partner for the next two seasons ahead of Audi’s arrival in F1, with the betting, entertainment and lifestyle brand taking over exclusive naming rights. Alfa Romeo officially becomes Stake as an expansion of the existing partnership that began with Sauber Motorsport AG last season, with a new team logo also unveiled.

“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,” team representative Alessandro Alunni Bravi said. “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 amb assadors, 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 farther: we are looking forward to an even more exciting calendar of events in this new season.”

The team describes its new identity as “crafted with the aim of keeping the fans front and center – by bringing a fresh perspective on the intersection of sports and entertainment”, and Stake co-founder Edward Craven says the title partnership will allow Stake to execute a number of special events to try and reach an even wider fanbase.

“We are thrilled with the opportunity to bring an electrifying and brand-new identity into our Formula 1 team, kickstarting the F1 season with a bold team name, Stake F1 Team,” Craven said. “Fueled 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.

“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!”

The decision to completely rebrand the Hinwil-based team as Stake F1 Team has been driven by the success of the existing deal in 2023, according to Stake’s chief marketing officer Akhil Sarin.

“The past season has been a testament to the marketing and media value that Stake has brought to the F1 team, especially within the digital landscape,” Sarin explains. “The first phase of this partnership has succeeded in increasing global brand awareness for all stakeholders.

“At Stake, we are prepared to take the team’s reach, fanbase and visibility to unprecedented levels. Our strategy will be focused on delivering unforgettable experiences that highlight our unwavering commitment and dedication to innovation, entertainment, and global connectivity.”

Stake F1 Team will unveil its 2024 car during a launch event in London on February 5 – the same day as Williams and the earliest confirmed date at this stage – and has retained its existing driver line-up of Valtteri Bottas and Zhou Guanyu for the upcoming season.