Kenya’s sports betting giant Sportpesa has signed a deal worth billions of shillings with Formula One Team Racing Point.
In the three year deal, the racing team will now be referred to as Sportpesa Racing Point Formula One.
The new racing outfit will be headlined by Spanish ace Sergio Perez and Lanze Stroll.
"SportPesa are a young dynamic, growing company whose values align with our own vision to become a team capable of competing at the very front of the grid," said Otmar Szafnauer, Team Principal and CEO of SportPesa Racing Point
The betting giant joins an extensive list of global brands that have invested in formula one, which include: Mercedes, RedBull, Rolex, Heineken, and Johnnie Walker, among others.
According to the SportPesa Company Director, Adam Beighton, the formula one platform enables the company to stay true to its mission, build and develop grassroots and professional sports to the countries as well as local communities in which they operate.
SportPesa has invested heavily in sponsorship deals across the globe, starting with local football giants Gor Mahia and AFC Leopards.
Other teams that are sponsored by SportPesa include English sides Everton and Hull City, Tanzania’s Simba and Yanga football clubs, South Africa’s Cape Town City and Italy’s Torino.
The venture signals a desire by the Kenyan sports betting brand to go global and compete with giants that have ruled the globe.