Santander to sponsor Ferrari in 2010

by Richard Kilner

Story link: Santander to sponsor Ferrari in 2010

Spanish banking giant Banco Santander has signed a deal with Ferrari to sponsor the car maker’s Formula One team in 2010, in a five-year deal.

In addition, Santander will retain its role as title sponsor of the Formula One races in the UK, Italy and Germany as well as its substantial presence at Spain, Brazil and the European Grand Prix.

Luca di Montezemolo, chairman of Ferrari, and Emilio Botín, chairman of Banco Santander, has described the deal as a new chapter in the history of Formula One.

Santander is one of the few banking giants to emerge from the financial crisis not merely standing but much enhanced with its robust strength permitting it to make a number of acquisitions in the UK and bolster its presence in both the UK and Germany.

The firm’s sponsorship of Ferrari may further fuel rumours that Spanish driving ace Fernando Alonso may be in line for a seat with the team come next season.