Formula 1's Surging Popularity in the US Drives Santander's Renewed Sponsorship Deal

The United States' growing significance in the world of Formula 1 has played a pivotal role in Santander's decision to become an official partner of the prestigious racing series. This strategic move, set to commence in 2025, marks a new chapter in Santander's longstanding relationship with F1, which dates back to 2006. The multi-year partnership agreement comes as Santander's sponsorship with Ferrari draws to a close, paving the way for a more comprehensive involvement in the sport.

Santander's Evolution in Formula 1

Santander's journey in Formula 1 has been extensive and varied. From sponsoring teams like McLaren and Ferrari to supporting the British Grand Prix, the bank has maintained a consistent presence in the sport. However, this new deal as the official retail banking partner signifies a deeper integration with F1, reflecting the changing landscape of both the sport and global banking.

The American Market: A Key Driver

The expansion of Formula 1 in the United States has been a significant factor in Santander's decision. With the impending launch of Openbank in the US in 2024, Santander sees an opportunity to leverage F1's growing American fanbase and the presence of races in Miami, Austin, and Las Vegas. This strategic alignment allows Santander to enhance its visibility and relevance in a key market.

Global Reach and Local Impact

Juan Manuel Cendoya, Santander's global head of communications, corporate marketing and research, emphasized the importance of F1's global appeal and its status as a national event in host countries. The partnership will see Santander's logos featured prominently at various Grand Prix events, particularly in markets crucial to the bank's operations, including the US, Brazil, Mexico, Spain, and the UK.

Activations and Fan Engagement

As part of the partnership, Santander plans to provide F1 fans with exclusive content and activations throughout the season. This approach aligns with F1's efforts under Liberty Media's management to make the sport more open, popular, and globally accessible.

Looking Ahead: Potential Sponsorships in Spain

With Santander's roots in northern Spain, there are indications that the bank might sponsor races in Madrid and Barcelona, should both be included in the 2026 F1 calendar. This move would further cement Santander's connection to its home market while supporting F1's expansion plans.

As Formula 1 continues to evolve and expand its global footprint, partnerships like this one with Santander demonstrate the sport's growing appeal to international brands seeking to engage with a diverse and passionate fanbase. The collaboration promises to bring new opportunities for both F1 and Santander, as they navigate the exciting future of motorsport and global banking.