Spanish financial institution Santander has confirmed the end of its commercial partnership with Ferrari and its departure from Formula 1.
The bank reportedly declined to extend its sponsorship - which started in 2010 following the arrival at the House of Maranello of Fernando Alonso - worth an estimated £35 million to Ferrari.
Santander will no longer have any involvement with the Italian outfit or Formula 1, having signed a three-year partnership with the UEFA Champions League.
"Santander will also conclude its corporate sponsorship agreements with F1 which have helped increase Santander’s brand recognition around the world over the last 11 years", the company said in an official release.
Gallery: The beautiful wives and girlfriends of F1 drivers
Keep up to date with all the F1 news via Facebook and Twitter
The opening day of running at the Las Vegas GP was a smooth but chilly…
Williams is continuing to fight uphill battles this weekend in Las Vegas as a knock-on…
It was a solid start to the Las Vegas weekend for Ferrari with Carlos Sainz…
Lando Norris didn’t hold back in his assessment of McLaren’s performance on the opening day…
Lewis Hamilton was particularly happy with his opening day of running at the Las Vegas…
Red Bull fears that its prospects for this weekend's Las Vegas Grand Prix - which…