Formula 1 News: Banco Santander to leave Ferrari with Sainz Jr.

(GMM) A major Spanish sponsor, Banco Santander, is departing Ferrari along with Carlos Sainz Jr. at the end of the year.

Banco Santander, a Spanish bank, backed the Maranello based team throughout its era with Fernando Alonso, and then again after Sainz was signed.

Sainz is being replaced by seven time world champion Lewis Hamilton from 2025.

“We are very grateful to Ferrari for the work we have done together over the last three years,” Santander Spain vice president Juan Manuel Cendoya told Marca sports newspaper.

He hinted that Santander may not leave Formula 1 altogether.

“Sponsorship plays an important role in attracting customers and strengthening our brand, and we will continue to work in this area in the coming years,” said Cendoya.