Ferrari has announced that the Italian banking group UniCredit will come on board as a sponsor to the marque’s Formula 1 team from the start of the 2025 campaign.
The Maranello-based squad revealed in the run-up to the Italian Grand Prix that its commercial arrangement with Santander will come to an end once 2024 concludes.
The Santander logo has adorned Ferrari’s F1 cars, race suits and caps since 2021, reviving a previous partnership between the parties that existed from 2010 to 2017.
But Santander, which has sponsored McLaren in the past, will not extend the agreement with Ferrari beyond 2024, coinciding with Carlos Sainz’s impending departure.
However, Ferrari has appeared to have been swift in securing a replacement sponsor as it has divulged that it will commence a multi-year collaboration with UniCredit.
“Ferrari announces that, effective January 1, 2025, UniCredit S.p.A. will partner with Ferrari S.p.A., its wholly-owned subsidiary, to be at its side in its Formula 1 racing activities under a multi-year agreement,” Ferrari’s statement read.
Ferrari has not publicised the extent to which UniCredit’s branding will be prominent on the F1 side, though it could be in line to replace Santander’s ongoing presence.
Meanwhile, Santander teased that it will “continue to work with a range of partners”, heightening rumours that it could be Williams-bound to team up with Sainz again.
It was announced during the summer break that Sainz, who will vacate his current drive at Ferrari to Lewis Hamilton in 2025, has penned a multi-term deal at Williams.
“We are extremely grateful to Ferrari for their partnership over the past three years,” Santander’s Global Head of Communications Juan Manuel Cendoya said.
“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.”
