Officially, Sauber’s F1 team is now known as the Stake squad. Drake, a rapper, publicist, and ardent bettor, shared the news on social media.
Drake, the Grammy Award-winning musician, announced this week that Stake, a cryptocurrency betting site, will name the Sauber Formula 1 (F1) racing team as part of a two-year sponsorship deal that will commence at the beginning of 2024. Drake is continuing his paid marketing of Stake.
Drake’s voiceover on an Instagram video promoting the relaunched squad, now known as the Stake F1 squad, says, “Buckle up.” The vehicle’s design is still a mystery. Prior to changing primary sponsors in 2023, the team was supported by the Italian luxury automobile manufacturer Alfa Romeo. It was then known as the Alfa Romeo F1 Team Stake.
Alessandro Alunni Bravi, a team representative, stated in a release, “Last season represented the start of Stake’s journey in Formula 1. The brand’s new role headlining Stake F1 Team represents the natural and exciting next step on this path.”
According to F1, the Stake F1 Team will continue to compete under its current moniker until 2026, at which point it will change its name to become Audi’s factory team.
Since late 2021, Drake has emerged as one of Stake’s most prominent paid supporters. Before Twitch outlawed broadcasting most forms of gambling in September 2022, the rapper used to livestream his gambling. Over the years, Drake has filmed videos about playing roulette on the platform and has published his Stake bets on numerous occasions.
Drake has seen some significant losses in addition to some victories from gambling. In late 2022, he allegedly bet over $1 billion on a variety of wagers. The rapper has also openly expressed his interest in cryptocurrencies; on social media, he has previously flaunted a flashy Ledger hardware wallet for his Bitcoin.