Kenyan betting group SportPesa has moved to strengthen its title sponsorship of Formula 1 racing team Racing Point, announcing the launch of new charity initiative ‘Grid that Gives’.
The F1 charity initiative will be launched this weekend at the British F1 Grand Prix at Silverstone Circuit, raising funds for breast cancer sufferers in partnership with Racing Point charity partner ‘Breast Cancer Care’.
Launching Grid that Gives, SportPesa is set to donate £1,000 for every ‘place gained’ by Racing Point drivers Sergio Perez and Lance Stoll, ‘from their starting grid placement to their finishing position’.
For the remaining F1 2019 season, SportPesa has pledged to donate a minimum of £50,000 (uncapped) to Breast Cancer Care, with the bookmaker further detailing that it has set a corporate target of £250,000 for the F1 2020 season.
Speaking to F1 news source, PlanetF1 SportPesa Racing Point Team Principal Otmar Szafnauer said: “We are proud of the work that has been done through our partnership with Breast Cancer Care, and it’s great to see SportPesa joining our efforts to raise further awareness and funds.
“SportPesa’s idea adds some fun to proceedings and is a wonderful way to combine our performance on track with raising money for such an important cause.
Entering 2019, SportPesa became the first bookmaker to undertake a ‘title sponsorship’ of an F1 team, following the motorsport’s decision to lift restrictions on advertising of betting companies.
Stating its intent on becoming a recognised F1 global partner, SportPesa would secure a multi-year title arrangement with Racing Point, rebranding the outfit to ‘SportPesa Racing Point F1’.
Commenting on developing ‘core values’ with Racing Point, Mark McGuiness SportPesa stated – “SportPesa is delighted to support Breast Cancer Care and the important work the charity undertakes in the UK,”
“Supporting and investing in the communities in which we operate is one of our core values; breast cancer impacts so many lives, both directly and indirectly, so this is a partnership we all feel very strongly about.”