Source – Planetf1.com
Santander and Ferrari have confirmed their association is ending, with Carlos Sainz’s departure taking effect simultaneously.
In a surprising turn of events, Ferrari and Santander have announced that their partnership, one of the most prominent in Formula 1, will come to an end on December 31, 2024. This marks the conclusion of the Spanish bank’s second stint as a major sponsor of the iconic Italian racing team, a collaboration that began in 2022. The partnership, widely regarded as a successful and mutually beneficial alliance, saw the two companies working closely to achieve significant milestones in Formula 1 over the past three years.
Ferrari’s Chief Racing Revenue Officer, Lorenzo Giorgetti, expressed his gratitude for the contributions made by Santander, acknowledging the vital role they played in supporting Ferrari’s efforts on and off the track. “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,” Giorgetti stated, highlighting the deep ties forged between the two giants in the world of motorsport and finance.
Santander’s involvement with Ferrari was not just about brand visibility but also about aligning with a team that embodies excellence, precision, and a relentless drive for success—values that resonate deeply with the bank’s own corporate philosophy. Juan Manuel Cendoya, Global Head of Communications, Corporate Marketing, and Research at Santander, as well as Vice Chair of Santander Spain, reflected on the partnership’s impact, noting, “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.”
The end of this partnership coincides with a period of significant transition for Ferrari, both on and off the track. The Scuderia is set to undergo a major shake-up in its driver lineup, with Carlos Sainz departing the team at the end of the season. Sainz, who has been a key figure in Ferrari’s recent campaigns, will be moving to Williams, a move that has caught many by surprise. In his place, Ferrari has secured the services of seven-time World Champion Lewis Hamilton, a signing that is expected to bring a new dynamic to the team as they push for a return to championship glory.
This shift in personnel underscores a broader evolution within Ferrari as the team continues to adapt to the rapidly changing landscape of Formula 1. With new regulations, technological advancements, and the increasing importance of sustainability within the sport, Ferrari’s decision to bring in Hamilton represents a bold statement of intent as they aim to reclaim their status at the pinnacle of Formula 1.
For Santander, the end of their partnership with Ferrari does not signify a retreat from motorsport. The bank has made it clear that they will continue to explore new sponsorship opportunities that align with their strategic goals. Their departure from Ferrari comes at a time when the financial sector is increasingly looking to leverage sports sponsorships as a means of engaging with a global audience, and it is expected that Santander will remain an active player in this space.
As both Ferrari and Santander prepare to part ways, there is no doubt that their collaboration over the past three years will be remembered as one of the more significant partnerships in recent Formula 1 history. While the future paths of both entities may diverge, the legacy of their partnership will continue to resonate within the sport, serving as a reminder of what can be achieved when two powerhouses join forces in pursuit of a common goal. As the curtain falls on this chapter, the motorsport world will be watching closely to see what the next chapter holds for both Ferrari and Santander.
