Ferrari revives partnership with Santander in multi-year deal

Ferrari has announced that it has signed a multi-year sponsorship deal with Spanish financial institution Santander, reviving the previous association enjoyed by the two partners between 2010 to 2017.

Santander entered Formula 1 with the House of Maranello on the back of Fernando Alonso's arrival at the team in 2010.

There's no doubt that the growing popularity at the Scuderia of Alonso's former protégé Carlos Sainz lured Santander back to the pinnacle of motorsport as a "premium partner" of the Italian outfit from 2022.

• Read also: Sainz initially shocked by 'crazy quick' Leclerc driving style

"It’s an honour to team up again with a global financial institution like Santander, which is committed to responsible banking and has shown leadership in renewable energy finance and ESG (environmental, social and governance) advisory services all around the world," said Ferrari executive chairman John Elkann.

"We look forward partnering with them to deliver our key objective of becoming carbon neutral by 2030.

"We believe Formula 1 with its innovations and technological developments will benefit our industry and ultimately society as a whole."

Santander's arrival could mark the end of Ferrari's historic commercial relationship with Philip Morris, whose contract with the Scuderia is set to expire at the end of this year.

While cigarette advertising has been banned in F1 since 2001, Philip Morris continued to support Ferrari and has used the team in the past few seasons to promote its 'change lab' Mission Winnow brand.

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