Sportpesa agree sponsorship deal with Formula One team

Kenya’s biggest betting firm, Sportpesa, is poised to be announced as new title sponsors for Formula One team, Racing Point.

According to Racefans, the team formerly known as Force India, has agreed a two-year deal with Sportpesa and an option to add another season. Racing Point plan to officially unveil Sportpesa as title sponsors at its season launch at the Toronto Motor Show on February 13 during a season presentation event at the Canadian International AutoShow in Toronto.

It is anticipated Racing Point will reveal their livery for the upcoming season just five days before pre-season testing begins at Barcelona, as well as a possible new identity

An Instagram post by the Formula One fan’s page indicate that the sponsorship agreement between Sportpesa and Racing Point will see the former pay €8 million in the first year and €10 million in the second year. Should they add another year, Sportpesa will pay €12 million in the third one.