Formula 1 has announced a new multi-year partnership with Santander, one of the world’s largest banks, which will see the Spanish company become the Official Retail Banking Partner of the sport beginning in 2025.
This development comes shortly after Ferrari revealed that it will end its sponsorship agreement with Santander at the end of the year. While there had been speculation about Santander potentially partnering with Williams in light of Carlos Sainz’s association with the British team, the bank has instead opted for a broader collaboration with Formula 1.
The partnership, which will officially commence in 2025, aims to highlight the shared commitment to innovation between Formula 1 and Santander. Both organizations plan to deliver exceptional experiences for their global audiences.
As part of the agreement, Santander will feature prominently on trackside signage at various Grands Prix and provide Formula 1 fans with exclusive content and activations. The deal also includes Santander’s Openbank, Europe’s largest 100% digital bank by deposits, which will be launching in the United States later this year. Formula 1’s expanding presence in the U.S. will support Openbank’s entry into the market throughout the partnership’s duration.
Formula One CEO and President Stefano Domenicali expressed enthusiasm about the partnership, stating, “I am thrilled to welcome Santander, an esteemed global brand, as an Official Partner of Formula 1. Santander’s deep history in our sport and their understanding of the immense platform we offer will enhance their global reach. I extend my thanks to Ana Botín, Group Executive Chair of Santander, and Juan Manuel Cendoya, Global Head of Communications, Corporate Marketing and Research, for their dedication to this exciting partnership. Our mutual focus on innovation and top-tier service for our customers and fans is fundamental to our collaboration, and I look forward to a dynamic future both on and off the track.”
Ana Botín, Executive Chair of Santander, remarked on the announcement: “We are excited to announce our new partnership with Formula 1. Over nearly two decades of collaboration, starting with Banesto, the sport has significantly contributed to Santander’s global engagement and brand enhancement. This new chapter in our relationship marks a pivotal step as we continue to evolve and expand our business.”
This partnership marks a significant move for both Santander and Formula 1, promising to enhance fan experiences and extend their global reach in the years to come.
