F1: Santander Bank becomes official partner of Formula 1

Santander has signed a multi-year partnership agreement with Formula 1, starting in 2025. The deal makes Santander the official retail banking partner of the sport and expands its involvement in Formula 1. 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, having previously sponsored McLaren, Ferrari and the British Grand Prix.

Under the new agreement, Santander will have trackside branches at several Grand Prix events, offering fans an exclusive experience. The bank will use the partnership to enhance its global brand and connect with its customers. Santander’s fully digital bank, Openbank, will also benefit from its expansion into the US market, capitalizing on the growing popularity of Formula 1 in the US. The partnership supports Santander’s goal to strengthen its global presence and provide innovative financial services.

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Stefano Domenicali, President and CEO of Formula 1, said: “I am delighted that a globally recognised brand like Santander has become an Official Partner of Formula 1. Santander has a long history in our sport and they know we can provide a huge platform to tell their story to our customers around the world.”

“I would like to thank Ana Botín, Executive Chairman of the Santander Group, and Juan Manuel Cendoya, Head of Global Communications, Corporate Marketing and Research and Vice Chairman of Santander Spain, for their passion and commitment to this exciting collaboration.

“Our shared commitment to innovation and delivering best-in-class service to our customers and fans is key to our partnership and I look forward to an exciting future both on and off the track.”

F1: Ferrari and Santander

Ferrari and Banco Santander will end their partnership after the 2024 Formula 1 season. The Spanish bank rejoined Ferrari as a sponsor in 2021 after a brief hiatus.

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The three-year contract 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 was cited as a key reason for the split.

With Sainz no longer driving for Ferrari, the team’s ties with Santander have waned and, although the exact reasons have not been revealed, the partnership will not continue beyond this season.