Racing Point F1 Highlights the Reason for Abandoning SportPesa

Today Racing Point F1 launched it’s 2020 challenger RP20. The launch event also marked the introduction of the team’s new title sponsor, BWT. BWT Racing Point F1 is the official name for the 2020 season before the imminent takeover by Aston Martin.

The team management and both the drivers Sergio Perez and Lance Stroll were present in the launch event.

Racing Point was the first title sponsor of the Racing Point F1 team. In 2018 Force India F1 was taken over by a consortium led by Lawrence Stroll and the new team was born.

It was announced today that BWT will replace SportPesa as the title sponsor, as the company ended its association with the team.

SportPesa’s troubles led to their departure from Racing Point F1

SportPesa made a statement to the Kenyan media that the company had decided to end the three-year deal due to a “new business strategy and sponsorship approach”

SportPesa is a betting company with interests across sports in Africa and Europe. Recently they shut their operations in Kenya despite having strong roots in the country. It was because of a change in the local tax law that heavily impacted the company. Additionally, The company also canceled all of its sports sponsorships in Kenya.

BWT AG, a company manufacturing water treatment products is based in Mondsee, Austria. BWT is one of the leading water technology group in Europe. And the company’s name is an abbreviation derived from Best Water Technology.

The company manufactures a range of water treatment systems. And the product portfolio covers the entire spectrum of water treatment technology.

BWT has a wide range of sponsorship deals with various motorsport teams across championships. They have been with the Racing Point (earlier Force India) team since 2017. They also have a presence in Formula 2, ADAC Formula 4 and a few other Touring events. Most notably, they put their pink corporate colors to the sponsored teams.