F1: Santander Becomes Official Formula 1 Partner Following Ferrari Departure

Santander has signed a multi-year partnership with Formula 1, starting in 2025. This deal made Santander the official retail banking partner of the sport and expanded its involvement in F1. Santander’s sponsorship of Ferrari will end in 2024, with UniCredit taking over as Ferrari’s new sponsor. Despite this change, Santander remains committed to Formula 1, having been involved since 2006, previously sponsoring McLaren, Ferrari, and the British Grand Prix.

Under the new agreement, Santander will feature trackside at several Grand Prix events and offer exclusive experiences for fans. The bank will use this partnership to boost its global brand and connect with customers. Openbank, Santander’s fully digital bank, will also benefit as it expands into the U.S., tapping into Formula 1’s growing popularity there. This partnership supports Santander’s goal of strengthening its global presence and delivering innovative financial services.

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F1 President and CEO Stefano Domenicali said: 'I am delighted that Santander, an incredible global brand, will become an Official Partner of Formula 1. Santander has a proud history in our sport, and they know the huge platform we can provide to amplify their story to customers around the globe.

'I want to thank Ana Botín, Group Executive Chair of Santander, and Juan Manuel Cendoya, Global Head of Communications and Corporate Marketing and Research and Vice Chair of Santander Spain, for their passion and commitment to this exciting partnership.

'Our shared focus on innovation and providing a best-in-class service to our customers and fans is key to our partnership and I am looking forward to a very exciting future on and off the track.'

F1: Ferrari and Santander 

Ferrari and Santander will end their partnership after the 2024 Formula 1 season. The Spanish bank re-joined Ferrari as a sponsor in 2021 after a short break.

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The three-year deal included not only Formula 1 but also Ferrari’s Le Mans Hypercar program. However, Carlos Sainz’s move to Williams at the end of the season is seen as a key reason for the split.

With Sainz no longer driving for Ferrari, the connection between the team and Santander has weakened. While the exact reasons haven’t been revealed, the partnership will not continue past this season.