Formula 1, the pinnacle of motorsport, has inked a multi-year sponsorship agreement with Santander, one of the largest banks in the world.
With this deal, starting from the 2025 season, the brand will see itself as F1’s official retail banking partner.
The cooperation will represent the two firms’ common dedication to innovation, as well as an emphasis on providing unique experiences for their respective fans and customers on a worldwide scale.
Drawing on a strong foundation in Formula 1 dating back to 2006, Santander’s logo will appear on trackside signs at certain GPs. Along with this, the brand will also provide Formula 1 fans with exclusive content and activations over the duration of the agreement.
The new arrangement additionally incorporates Santander’s Openbank, Europe’s top digital bank by deposits, which will launch in the United States later this year. Formula 1 will capitalise on its growing footprint and fan base in the United States to help the digital bank expand during the course of the agreement.
Formula 1, President and CEO, Stefano Domenicali, commented, “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. I want to thank Ana Botín, Group Executive Chair of Santander, and Juan Manuel Cendoya, Global Head of Communications and Corporate Marketing and Research and Vice Chair of Santander Spain, for their passion and commitment to this exciting partnership.
“Our shared focus on innovation and providing a best-in-class service to our customers and fans is key to our partnership and I am looking forward to a very exciting future on and off the track.”
Ana Botín, Executive Chair of Santander, said, “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. This collaboration will help create value across the group and marks an important new chapter in our relationship, as we continue to transform and grow our business.”
Notably, this year also marked the conclusion of Santander’s three-season sponsorship agreement with Scuderia Ferrari. The Spanish bank was also a partner of the Scuderia from 2010 to 2017.
On the contrary, F1 has also signed Aggreko to provide low-carbon energy-generating technologies for all European Grands Prix beginning from the 2025 season.