Ferrari and Santander have announced that their sponsorship agreement will conclude at the end of 2024.
Confirmed:
- Deal expires on 31st December and will not be renewed
- Santander has been a premium partner of the Ferrari Formula One team and a partner of the Italian outfit’s Le Mans Hypercar (LMH) programme
Context:
Ferrari reunited with Santander courtesy of a three-year deal signed in December 2021 reportedly worth US$60 million annually. The Spanish banking group was previously a sponsor of the Italian motorsport outfit from 2010 to 2017, before embarking on a new partnership with European soccer’s Uefa Champions League.
Santander has been linked with a partnership with Williams, who have signed Spanish driver Carlos Sainz from Ferrari on a two-year contract from the 2025 Formula One season.
Comment:
“As our successful partnership with Santander comes to its end, we would like to express our gratitude for their dedication and collaboration during our journey together,” said Lorenzo Giorgetti, chief racing revenue officer of Ferrari. “They have played an important role in contributing to our achievements over the past three years.”
Juan Manuel Cendoya, global head of communications, corporate marketing and research of Santander and vice chair of Santander Spain, added: “We are extremely grateful to Ferrari for their partnership over the past three years. Sponsorships play an important role in engaging with clients and reinforcing our brand and we will continue to work with a range of partners in the years ahead.”
Coming next:
Having claimed their third win of the season at Monza last weekend, Ferrari next race at the Azerbaijan Grand Prix from 13th to 15th September.
Go deeper:
- Haas extend technical partnership with Ferrari until 2028
- Ferrari confirm F1 title partnership with HP
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