Alfa Romeo, the Swiss Formula One team has locked itself into a record deal partnership with Stake.com, which in the announcement branded itself as an entertainment and lifestyle brand.
By becoming the title partner, and renaming the team to Alfa Romeo F1 Team Stake, the online crypto casino aims to reach out to a wider audience while hosting surreal experiences during the F1 season worldwide.
Massive partnerships like this, however, are nothing new to this leading global brand which has already signed associations with the UFC, Everton Football Club, the former Argentinian Football player Sergio Agüero, as well as pop icon Drake.
Alessandro Alunni Bravi, Managing Director of Sauber Group and Team Representative 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 is 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 program that Stake will unveil for our fans”.
Bijan Tehrani, Co-Founder of Stake commented:
“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”.
But, not all fans were happy about the announcement…
Crypto partnerships have seen better days and are going through a rough patch thanks to regulatory guidelines for crypto advertising.
And, sports teams and brands have been a bit weary in recent times, often terminating any association with crypto-related companies.
Mercedes stepped away from FTX after the $32 billion company filed for bankruptcy, and Ferrari dropped Velas after its value plummeted drastically.
The agreement between Tezos and Red Bull has also been watered down with Tezos not featuring on the RB19, so it comes as no surprise that fans were a bit weary.
It’s also quite interesting that the word ‘’crypto’’ was not mentioned once in the 446-word announcement, making one wonder if Alfa Romeo is aiming at hiding the crypto element behind its new $100 million sponsor.
But in all fairness, Stake has proved successful with all its partnerships, now and in the past, and has gone from a small start-up to one of the biggest names in online gaming in just over 8 years.
Stake.com Partnership Deals
Stake has invested billions in marketing over the years and has managed to harness the power of modern marketing and technology trends to establish itself on the global stage.
Here are some of Stake’s sponsorship and partnership deals:
- Watford Football Club agreed to a £5m a year Stake.com shirt sponsorship in 2021
- Massive brand ambassador deals with the likes of Sergio Agüero, José Aldo, Alexa Grasso, and Drake
- a £10m a year shirt sponsorship deal with Everton
- Stake is the Official Partner of the European Cricket Championship and the Rugby League Brazil
- Stake.com partnered with the Ultimate Fighting Championship (UFC) as a global sports partner for the organization
Stake simply seems to cover it all – Football, UFC, Boxing, Cricket, Rugby, Celebrities, Streamers, and now, also Formula 1.
It’ll be interesting to see what they do next!