In a major move that will reshape the financial landscape of motorsports, banking giant Santander has announced a multi-year deal to become Formula 1 official partner starting 2025.
The Spanish banking giant will serve as the official retail banking partner of the premier open-wheel racing series marking an important new chapter in its longstanding relationship with the sport.
The partnership which was officially confirmed by both parties will see Santander’s branding prominently displayed on trackside signage at several Grand Prix events throughout the season.
The bank’s logos will be particularly visible in key markets such as the United States, Brazil, Mexico, Spain, and the UK, among others.
“We are delighted to announce our new partnership with Formula 1,” said Ana Botín, Executive Chair of Banco Santander.
“Over nearly two decades, since Banesto first began working with F1, the power and global reach of the sport has helped Santander engage with customers, deepen relationships, and strengthen our brand.
“This collaboration will help create value across the group and marks an important new chapter in our relationship, as we continue to transform and grow our business.”
The partnership will also feature exclusive content and engaging experiences for F1 fans, further enhancing the bank’s presence in the sport both on and off the track.
The group’s Openbank, Europe’s largest fully digital bank by deposits, is set to launch in the United States later this year, and the partnership with Formula 1 will provide a platform to support the digital bank’s expansion in the US market.
“I am delighted that Santander, an incredible global brand, will become the Formula 1 Official Partner,” said Formula 1 President and CEO Stefano Domenicali. “Santander has a proud history in our sport, and they know the huge platform we can provide to amplify their story to customers around the globe.
“Our shared focus on innovation and providing a best-in-class service to our customers and fans is key to our partnership and I am looking forward to a very exciting future on and off the track.”
The announcement comes on the heels of Santander’s decision to part ways with Ferrari, another iconic team in the Formula 1 paddock. The bank had previously sponsored the Scuderia from 2010 to 2017 and then again from 2022 to the end of the 2024 season.
Besides that, Santander has a long affiliation with F1 having first sponsored the series back in 2006, sponsoring both individual races and other teams such as McLaren. Therefore, the move to partner with Formula 1 as a whole rather than a specific team reflects the brand’s desire to broaden its reach within the sport.
By aligning with the championship itself, the bank can tap into the global appeal and growing popularity of Formula 1, particularly in markets like the United States where the sport has seen a surge in interest in recent years.
The US will host three different F1 Grand Prix races in 2025, with Santander aiming to capitalize on the sport’s burgeoning popularity in the country to promote the online brand.
While developing into a global bank, Santander’s roots are in northern Spain and it is understood that the company would sponsor races in Madrid and Barcelona, should both be included on the 2026 F1 calendar
The partnership also highlights the shared commitment to innovation between Santander and Formula 1, as well as a focus on delivering unrivaled experiences for their respective fans and customers on a global scale.
The announcement of the new partnership comes at a time when the sport is experiencing a significant surge in popularity, with record-breaking viewership numbers and a growing fan base around the world.
The addition of a global banking giant like Santander as an official partner is a testament to the sport’s commercial appeal and its ability to attract top-tier brands
