New title sponsor to take a bet on Racing Point in 2019

Lance Stroll (CDN) Racing Point Force India F1 VJM11 in the pits. 28.11.2018. Formula 1 Testing, Yas Marina Circuit, Abu Dhabi, Wednesday.
© XPB 

Racing Point could be shedding its pink color this season after securing a major sponsorship deal with online sports betting company SportPesa.

According to a report from RaceFans' Dieter Rencken, Racing Point has agreed a two-year title sponsorship deal with its new partner that is worth an alleged $18 million.

The team led by Canadian businessman Lawrence Stroll - which acquired the assets of Force India last summer after the latter's fall into administration - plans to unveil its deal with SportPesa at the official launch of Racing Point's 2019 season set to take place at the Toronto Motor Show on February 13th.

At this stage it's unsure whether prominent Racing Point sponsor BWT - which gave its trademark pink color to Force India in 2017 - will continue with the team, or what could be the scope of its involvement.

SportPesa is described as a sports betting platform with operations in Kenya, Tanzania, South Africa, the Isle of Man and the UK.

The company is owned and operated by Pevans East Africa, a entity with shareholders from mostly Kenya, Bulgaria and the United States.

Given the friendship between Lawrence Stroll and Flavio Briatore, and the flamboyant Italian's acquaintance with Kenya, one would not be surprised to learn that the former Benetton and Renault team boss may have had a hand in the deal. That's just pure speculation however.

Gallery: The beautiful wives and girlfriends of F1 drivers

Keep up to date with all the F1 news via Facebook and Twitter