Alfa Romeo has been the title sponsor of Sauber F1 team since 2019. (Buda Mendes/Getty Images)

Swiss motorsport team Sauber, which competes in the elite single-seater racing series Formula 1 (F1), has announced that title sponsor Alfa Romeo will not be returning for the competition’s 2024 season.

The team had raced under the moniker Alfa Romeo F1 Team Stake, or simply Alfa Romeo, but, however, was wholly operated by the Sauber firm.

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Sauber will now compete as Stake F1 Team Kick Sauber with existing sponsors betting conglomerate Stake and content streaming platform Kick now taking place as the team's new title sponsors.

Alfa Romeo was signed on as the main title sponsor of the team, as well as technical and commercial partners. That partnership, which began in 2019, expired at the end of the 2023 season, with Sauber now confirming Alfa Romeo will not return for 2024.

Other high-profile sponsors of the team include German sportswear brand Puma, Thai beer brand Singha, and multinational electronics company Mitsubishi Electric.

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Sauber has raced in F1 since 1993, and currently utilizes Ferrari engines, with Audi set to take over the team’s engine production from the onset of new regulations in 2026.

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Audi currently holds a minority stake in Sauber, however, it has said it is reluctant to take on a role as a title partner of the team until it has fully entered F1 as an engine producer, paving the way for it to become a title partner of Sauber from 2026 onwards.

The team finished in ninth place in the 10-team F1 constructors' championship last season.

Alfa Romeo’s exit from F1 coincides with a similar announcement from the rival Aston Martin F1 team that data technology and business service firm Cognizant will no longer serve as one of the team’s joint title sponsors.

From January, the team will be known as Aston Martin Aramco, with Saudi Arabian oil giant Aramco taking full title sponsorship, although Cognizant will remain a strategic partner of the team.