Scuderia Ferrari and Banco Santander announced on Friday that they will end their partnership as of December 31, 2024, when the three-year contract for sponsorship of the Italian team in the Formula 1 World Championship expires.
Sources from Banco Santander itself confirmed this news to Europa Press and, in addition, the ‘prancing horse’ team recalled in a press release that the Ferrari company and the Spanish financial institution had already had “a previous collaboration from 2010 to 2017.”
Santander is now considering continuing in F1 with other formulas, but more closely linked to supporting the sport of the ‘Grand Circus’ than to a specific team. Juan Manuel Cendoya, General Manager of Communication, Corporate Marketing and Studies at Banco Santander, as well as Vice President of Santander Spain, valued this end of the alliance.
“We are very grateful to Ferrari for the work we have done together over the past three years. Sponsorship plays an important role in attracting customers and strengthening our brand, and we will continue to work in this area in the coming years,” said Cendoya.
Ferrari said in its press release that due to this alliance, initiated in January 2022, Santander had been a premium partner of its team in F1 and also a partner in its Le Mans Hypercar (LMH) programme, seen in the FIA World Endurance Championship.
Lorenzo Giorgetti, Ferrari’s Director of Motorsports Revenue, commented on the scenario: “As our successful collaboration with Santander comes to an end, we would like to express our gratitude for their dedication and collaboration during our journey together.”
“They have played an important role in contributing to our achievements over the last three years,” concluded Giorgetti, in line with an alliance that in recent seasons has given Santander a significant presence on the cars of Carlos Sainz and Charles Leclerc, as well as on racing clothing and the caps of drivers and mechanics.
Similarly, the Spanish financial institution has advised Ferrari on its goal of being carbon neutral by 2030. Not in vain, Santander has been carbon neutral in its activity since 2020 and seeks to achieve net zero emissions for its clients with respect to its advisory and investment services by 2050.