Ferrari has announced it will end its partnership with Santander, effective December 31, 2024. This decision concludes a three-year collaboration that began in January 2022, following a previous partnership from 2010 to 2017.
Santander has been a significant partner for Ferrari, supporting both its Formula 1 team and its Le Mans Hypercar program.
In a recent statement to the press , Ferrari expressed appreciation for Santander's contributions during their time together.
"Maranello, August 30, 2024 - Ferrari N.V. (NYSE/ EXM: RACE) (‘Ferrari’ or the ‘Company’) announces the termination of the partnership between Ferrari S.p.A., its wholly-owned subsidiary, and Santander, effective as of December 31st, 2024 since the committed three-year contract will end.
"The partnership, which began in January 2022 after a previous collaboration from 2010 to 2017, saw Santander alongside our Company in the sporting activities of the Prancing Horse. Santander has been Premium Partner of Scuderia Ferrari in Formula 1 and has been our partner in the Le Mans Hypercar (LMH) programme."
Lorenzo Giorgetti, Chief Racing Revenue Officer of Ferrari, also said:
“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.”
Juan Manuel Cendoya, global head of Communications, Corporate Marketing and Research of Santander and vice chair of Santander Spain, said:
“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.”
As Formula 1 heads to Monza for the Italian Grand Prix this weekend, driver Charles Leclerc is focused on improving the team's performance.
Despite recent challenges with the SF-24's pace, he remains optimistic about competing for a podium finish, although he acknowledges that winning may still be out of reach for now.
He told the media :
“I don't let the last two races change our expectations.
“We are in a difficult moment for the team. We are struggling a little bit with pace at the moment.
“I think we understood quite a few things since Zandvoort, especially on what happened on Saturday, where our performance was quite far from ideal. But on the Sunday, it was a good race. In Spa it was good as well.
“Here, it should be a bit more in the direction of Spa, so hopefully we'll be a bit more in the fight for the podium. However, for the win, I don't think we quite have that yet.”
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