Spanish sponsor Santander to exit Ferrari along with Sainz

A prominent Spanish sponsor is set to leave Ferrari alongside Carlos Sainz at the conclusion of this year.

Banco Santander, the Spanish banking giant, has been a sponsor of the Maranello-based team during its period with Fernando Alonso and then once more after the signing of Sainz.

Sainz is set to be replaced by seven-time world champion Lewis Hamilton from the 2025 season onwards.

"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 might not exit Formula 1 entirely.

"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.