Ferrari loses Santander but recovers UniCredit
The Italian team has just announced during the home weekend the acquisition of a new partner in the form of UniCredit. A multi-year agreement that comes after the end of the collaboration between Ferrari and Santander due to Carlos Sainz's departure at the end of the season.
It’s an exceptional weekend for Ferrari at Monza. In addition to Charles Leclerc’s victory this Sunday, the Maranello team has just announced the signing of a new sponsor, which is none other than UniCredit, an Italian banking group founded in 1998 and currently the second largest bank in the country. This agreement is essential for the team, which announced a few days ago the end of its partnership with Santander, the first Spanish bank, founded in 1857. This collaboration ends due to the departure of the Spaniard Carlos Sainz, supported by this bank, who will join Williams in 2025.
Lorenzo Giorgetti, Chief Competition Revenue Officer at Ferrari, wanted to express his gratitude for Santander’s dedication throughout their various collaborations. Santander had indeed joined the Maranello team in 2010, following Fernando Alonso’s arrival, and had left the team in 2017 before returning in 2021, when Ferrari decided to entrust one of its two seats to Carlos Sainz.
« As our successful partnership with Santander comes to an end, we wish to express our gratitude for their dedication and collaboration throughout our shared journey. They have played an important role in contributing to our achievements over the past three years,” Giorgetti explained, acknowledging the efforts made by this Spanish company, especially last year, as Santander largely contributed to the $250 million raised by Frédéric Vasseur’s team through sponsorship revenues.
These remarks were then heard and countered by Juan Manuel Cendoya, Global Head of Communications, Corporate Marketing and Research at Santander: We are very grateful to Ferrari for the work we have done together over the past three years.
Despite the end of this partnership, Santander does not necessarily intend to leave the world of Formula 1, suggesting that it could join Sainz at Williams as soon as next year. Sponsorships play an important role in engaging with clients and strengthening our brand, and we will continue to work with a range of partners in the years to come.
On its side, UniCredit will discover the world of Formula 1 after sponsoring tennis tournaments and the UEFA Champions League in football. A unique opportunity that will further strengthen Italy’s interest in Formula 1, with a partnership between a company and an Italian team. Although no information has been confirmed yet, UniCredit is expected to take on the same role as Santander.
Ferrari announces that as of January 1, 2025, UniCredit S.p.A. will become a partner of Ferrari S.p.A., its 100% subsidiary, to support it in its Formula 1 racing activities as part of a multi-year agreement, reads a brief statement released on Monday morning. Before that, Ferrari still has to finalize its partnership with Sainz and Santander. There are still eight races left in this championship and the Italian team still has ambitions for the end of this season.
