Ferrari have signed a new partnership with Italian-based banking group UniCredit.
Contract:
- Multi-year deal will commence from 1st January 2025
- Deal covers Ferrari Formula One team racing activities
Context:
Details around the partnership are scarce so far, but it comes days after Ferrari confirmed their partnership with Santander would end on 31st December. The Spanish banking group signed a three-year deal with the Italian motorsport outfit in December 2021, reportedly worth US$60 million annually. Santander was previously a sponsor of Ferrari from 2010 to 2017.
UniCredit’s previous sports sponsorships include pacts with the Uefa Champions League from 2009 to 2018, though the company opted to end the deal as part of cost-cutting measures. It was also announced as the official banking partner of tennis’ Davis Cup in June and is a sponsor of the latest edition of sailing’s America’s Cup.
Coming next:
Ferrari next travel to the Baku City Circuit for the Azerbaijan Grand Prix from 13th to 15th September.
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