Ferrari is set to part ways with long-term sponsor Santander at the conclusion of the 2024 Formula 1 campaign, concluding a three-year contract.
The latest collaboration between Santander and Ferrari commenced in 2022 and saw the Spanish bank partner with the Scuderia’s Le Mans Hypercar programme.
Previously, Santander adorned the scarlet red Ferrari Formula 1 cars from 2010 through 2017.
In all likelihood, the departure of Spanish driver Carlos Sainz at the end of the season to join Williams has given Ferrari and Santander no cause to continue beyond the end of this three-year deal.
Lorenzo Giorgettl, Chief Racing Revenue Officer at Ferrari said: “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.
“They have played an important role in contributing to our achievements over the past three years.”
In addition, Juan Manuel Cendoya, Global Head of Communications, Corporate Marketing and Research of Santander and Vice Chair of Santander Spain, said: “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.”
