The announcement was made as the iconic Italian team unveiled its 2012 car on Friday and will see the biggest bank in the Eurozone continue its backing until the end of the 2017 season. Santander had originally signed a five-year deal with Ferrari to coincide with the arrival at the team of double world champion, and Spanish hero, Fernando Alonso in 2010. Alonso’s contract is currently due to expire at the end of the 2016 season.
Ferrari team principal, Stefano Domenicali, said: “In these first two years together, we have been able to see on a daily basis how much our two companies share the same values: a desire for excellence, love of competition, team work, the will to excel and to serve one’s customers’ needs. Having extended the contract from now, is a sign of the great confidence Santander has in us and that is something of which we can be particularly proud.”
Besides its involvement with Ferrari, Santander has a deep presence in F1. It is the title sponsor of the Spanish, Italian, German and British grand prix and also sponsors the European Grand Prix in Valencia and the Brazilian Grand Prix. Friday’s extension will see Santander remain in a Ferrari sponsor portfolio that also includes Philip Morris International, Fiat, Shell, Acer, Kaspersky and AMD.
“Our sponsorship with the motor-racing team is the best operation of marketing through more than 150 years of history of the bank,” added Santander president Emilio Botin. “We could not pass up the opportunity to give Ferrari continuity, given the excellent brand notoriety results and commercial impact that the partnership is giving us in all the markets in which we operate.”