Aditya ChaudhuriThe Italian Formula One team have partnered with the banking group for the first time since 2017.
Iconic Formula One team Ferrari have re-signed with Spanish banking group Santander after a gap of four years.
Santander, which was previously a sponsor of the Scuderia from 2010 to 2017, has joined the team once again on a multi-year deal which will see it become a Premium Partner of the team. The deal will see the Santander logo appear on the cars, race suits of the drivers and also on their headgear.
The main focus of the partnership will be sustainability, with Santander ready to offer Ferrari a host of solutions to help the team become carbon neutral by 2030. Santander has been carbon neutral since 2020 and has committed to achieving net zero carbon emission in all its lending, advisory and investment activities by 2050.
Speaking about the revived partnership, John Elkann, Chairman, Ferrari, commented:
“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.
“We look forward to partnering with them to deliver our key objective of becoming carbon neutral by 2030. We believe Formula One with its innovations and technological developments will benefit our industry and ultimately society as a whole.”
Reports suggest Ferrari will drop Philip Morris International’s Mission Winnow branding from next season onwards.
Santander, meanwhile, enjoys a strong sports sponsorship portfolio which includes title sponsorship of the LaLiga and South America’s largest football club competition, the Copa Libertadores.
