Ferrari announce new major sponsor after the departure of Santander

Having recently announced the departure of major partner Santander, Scuderia Ferrari has now revealed UniCredit as new sponsor from 2025 Formula One season.

Just ahead of the Italian Grand Prix, Ferrrari announced that it will terminate its partnership with Santander at the end of the year.

However, the Spanish bank have indicated that they might collaborate with other teams in the future. It is believed that Santander might follow Carlos Sainz at Williams.

“We are extremely grateful to Ferrari for their partnership over the past three years,” Santander’s Global Head of Communications Juan Manuel Cendoya said.

“Sponsorships play an important role in engaging with clients and reinforcing our brand and we will continue to work with a range of partners in the years ahead.”

Ferrari agreed to a sponsorship with Santander in 2021, reviving a previous partnership between the parties that existed from 2010 to 2017.

The Italian team has now confirmed that they have reached a new sponsorship agreement with UniCredit.

The Italian banking group UniCredit will come on board as a major partner from the start of the 2025 campaign.

“Ferrari announces that, effective January 1, 2025, UniCredit S.p.A. will partner with Ferrari S.p.A., its wholly-owned subsidiary, to be at its side in its Formula 1 racing activities under a multi-year agreement,” Ferrari’s statement read.

Ferrari is yet to confirm further details about its new partnership with UniCredit.