The top car racing category will not see Santander's farewell in 2025. The well-known Spanish bank will take on the role of official retail banking partner for Formula 1. A new opportunity immediately after the farewell as sponsor to Scuderia Ferrari, also caused by Carlos Sainz's move to Williams.
Santander new role in Formula 1: it will be retail banking partner
In the aftermath of the chaotic days in Monza, Ferrari announced that from 1 January 2025 it will begin a new sponsorship relationship with Unicredit. In fact, the Italian bank will replace Santander which, probably given the move of Carlos Sainz to Williams, will no longer occupy space on Prancing Horse suits and liveries. A plausible hypothesis could have been the move of the Spanish bank to the English team, to continue supporting its home driver. It is no coincidence that in the past Santander entered Formula 2006 for the first time in 1 by sponsoring McLaren, which the following year would have had Fernando Alonso as its driver. Subsequently, again because of the two-time world champion from Asturia, Santander landed in Ferrari in 2010, maintaining the collaboration with Maranello until 2017, and then resuming it with the arrival of Carlos Sainz in Ferrari.
Instead, quite the opposite happened. Both Santander and Formula 1, both with an official press release, announced the start of a new close collaboration, with the Spanish bank that will play the important role of retail banking. This term refers to a customer relationship between a bank and one or more customers aimed at providing basic services, which are obviously not disclosed in the two press releases. In any case, it seems to be an active partnership between Santander and Formula 1, with the former that should, taking into account the terminology used, provide very specific services. But not only that. The multi-year agreement, which will start in 2025, provides that "The bank's logos will be featured on trackside signage at numerous Grands Prix throughout the season. The bank will also provide Formula 1 fans with exclusive content and activations throughout the partnership“. This is how Santander explains its place.
Domenicali satisfied: “Santander has an important history in our sport”
The start of the relationship between Santander and Formula 1 was welcomed with great enthusiasm by Stefano Domenicali, CEO of F1. “I am delighted that Santander, a great global brand, become an official partner of Formula 1. Has an important story in our sport and knows the huge platform we can provide to amplify their prestige to customers all over the world. I want to thank Ana Botin, the executive president of the Santander group, and Juan Manuel Cendoya, Global Head of Communications, Corporate Marketing and Vice President of Santander Spain, for their passion and commitment to this exciting partnership".
Pompous and celebratory tones, for an officiality that has very little to do with the track. Stefano Domenicali's enthusiasm was finally shared by the already mentioned Ana Botìn, as reported in the press release signed by Formula 1. "We are happy to announce our new partnership with Formula 1. This collaboration will help create value for the entire group and will mark an important new chapter in our relationship, as we continue to transform and grow our business".
Source: Santander, Formula 1
