(Hinwil) Formula 1 team Sauber says it is not concerned by a report that it could face a hefty fine in Switzerland for entering into a commercial deal with the betting firm in Stake line.
Swiss broadcaster SRF reported on Tuesday that the country’s gambling regulator had launched an investigation against Sauber. The team is based in Switzerland, where advertisements from foreign online betting companies are regulated by a legislative framework. SRF reported that Sauber could face a fine of up to 500,000 Swiss francs ($772,000).
“Sauber Motorsport AG has always adhered and continues to adhere to the laws in force, both in Switzerland and in the countries where the races take place,” Sauber said in a press release sent by email on Wednesday. We are not concerned about the article about the ongoing investigation by Swiss authorities: it is a process that will confirm that we are complying with all admissible laws in force. »
Stake became a sponsor of the team last year and its role was increased this season, after the automobile manufacturer Alfa Romeo ended its agreement with the team. Sauber has already removed the Stake brand from its cars for certain races where local laws prohibit or limit its visibility.
Stake logos were clearly visible on the Sauber car, the C44, which was revealed on Monday. The team will be called the F1 Stake Team for the majority of races this season and plans to use another sponsor’s name, Kick, for races where local laws prohibit or limit the visibility of online betting companies. .
The Stake logo was not visible in the list of Sauber group’s commercial partners on its website on Wednesday.
Stake and the Swiss gambling regulator have not yet responded to interview requests from The Associated Press.