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Santander rejoins Scuderia Ferrari in multi-year partnership

Ferrari announced today the return of Santander to the scuderia as a Premium Partner starting from the next F1 season, after a four-year absense from the sport.

Spanish finance giant Santander is aligning with the Maranello team in a multi-year partnership spanning across its wide motorsport activities.

Alongside racing, the bank will support the Ferrari‘s efforts to become carbon neutral by 2030 with its technical know-how in renewable energy finance.

Santander’s branding will feature prominently on the team’s cars, race suits and caps, and will also be present in the Ferrari Driver Academy activities.

Outside of F1, the bank’s logos will also feature in Ferrari Competizioni GT and on the official cars participating in the World Endurance Championship, including on the upcoming Le Mans Hypercar.

“It’s an honour to team up again with a global financial institution like Santander, which is committed to responsible banking and has shown leadership in renewable energy finance and ESG advisory services all around the world. We look forward partnering with them to deliver our key objective of becoming carbon neutral by 2030. We believe Formula One with its innovations and technological developments will benefit our industry and ultimately society as a whole.”

John Elkann, Ferrari Chairman

“We are very excited to work with Ferrari again, and support them in the green transition. Santander is fully committed to tackling climate change, and as Europe’s leading provider of auto finance, we are determined to help the auto industry as it goes green. Our new partnership with Ferrari will accelerate our common progress.”

Ana Botín, Banco Santander Executive Chairman

Return of the giant

Santander had already been a key player in Formula 1 from 2007 and 2017 with McLaren and Ferrari, having been previously partnered with the prancing horse for 8 years.

Emilio Botin, former Santander CEO and big racing fan, was the main character behind Santander’s prominent marketing campaign in F1 as he chose the sport to increase the bank’s profile to a worldwide status.

The Spanish bank joined McLaren with the arrival of World Champion Fernando Alonso in 2007, before moving to Ferrari with the Spaniard in 2010 in a €210 million deal.

Santander would remain with McLaren as its UK subsidiary retained links with Jenson Button until 2017.

The bank also took title sponsorship of several races over the years, including the Grands Prix in Britain, Spain and Brazil from 2007 to 2014.

Following the death of Emilio Botin, Santander transitioned from racing to football, signing premium sponsorships with LaLiga, UEFA Champions League and Conmebol Libertadores.

Nevertheless, the bank’s return to F1 is no coincidence as the sport moves to a net zero future at the same time as Santander, becoming carbon neutral last year with the objective of being net zero by 2050.

The imminent exit of Ferrari title sponsor Philip Morris also potentiates more opportunities for Santander and other partners to boost their “green” activities.

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