F1 announce MAJOR financial deal after split with historic team

Formula 1 have announced a huge new financial deal with a sponsor following their split from Ferrari.

Santander were associated with the Prancing Horse between 2010 and 2017 before re-joining from 2021 onwards.

READ MORE: Fans SLAM team boss for 'disrespectful' comments on American star

Before the Italian Grand Prix, however, Ferrari announced that the partnership would end after the 2024 F1 season.

Days later, they confirmed a new sponsorship deal with UniCredit in a multi-year agreement starting from the 2025 season.

READ MORE: Hamilton snubbed as AMERICAN F1 star named sexiest driver

Ex-Ferrari sponsorship joins forces with F1

Now, Santander have linked up with F1 themselves, becoming a global partner to the sport.

A statement on the F1 website on Wednesday read: "Formula 1 is delighted to announce that Santander, one of the largest banks in the world, will become its Official Retail Banking Partner in a multi-year deal starting in 2025."

Formula 1 President and CEO Stefano Domenicali said: "I am delighted that Santander, an incredible global brand, will become an Official Partner of Formula 1.

“Santander has a proud history in our sport, and they know the huge platform we can provide to amplify their story to customers around the globe."

The Executive Chair of Santander, Ana Botin, added: “We are delighted to announce our new partnership with Formula 1.

"Over nearly two decades, since Banesto first began working with F1, the power and global reach of the sport has helped Santander engage with customers, deepen relationships, and strengthen our brand."

The Spanish bank expressed its delight with agreeing a new deal in the sport via a post on social media.

Santander are an Official Partner of @F1 for the 2025 season

Here's to a future of speed, innovation, and success with Banco Santander and Formula 1#F1 #Santander pic.twitter.com/cpvJ1nWIU0

— Formula Santander (@SantanderGP) September 4, 2024

READ MORE: F1 reveal drastic changes ahead of 2024 Las Vegas Grand Prix

Related

Latest F1 News

Horner teases Ricciardo F1 COMEBACK after 2026 link

• December 21, 2024 00:00

Red Bull

Who is new F1 driver Isack Hadjar? The Red Bull star promoted for 2025

• December 20, 2024 21:00