FERRARI AND SANTANDER END THEIR PARTNERSHIP
Ferrari N.V. (NYSE/EXM: RACE) has announced the termination of its partnership with Santander, effective December 31, 2024. The collaboration, which began in January 2022 following a previous stint from 2010 to 2017, will conclude as the three-year contract expires. Santander has served as a Premium Partner for Scuderia Ferrari in Formula 1 and supported Ferrari's Le Mans Hypercar (LMH) program.
Lorenzo Giorgetti, Chief Racing Revenue Officer of Ferrari, expressed gratitude for Santander's dedication and contributions to Ferrari's achievements over the past three years. Juan Manuel Cendoya, global head of Communications, Corporate Marketing and Research at Santander, acknowledged the importance of sponsorships in client engagement and brand reinforcement, indicating that Santander will continue to work with various partners in the future.
Ferrari N.V. (NYSE/EXM: RACE) ha annunciato la cessazione della sua partnership con Santander, che sarà effettiva dal 31 dicembre 2024. La collaborazione, iniziata a gennaio 2022 dopo un precedente accordo dal 2010 al 2017, si concluderà con la scadenza del contratto triennale. Santander ha avuto il ruolo di Partner Premium per la Scuderia Ferrari in Formula 1 e ha supportato il programma Le Mans Hypercar (LMH) di Ferrari.
Lorenzo Giorgetti, Chief Racing Revenue Officer di Ferrari, ha espresso gratitudine per la dedizione e i contributi di Santander ai successi di Ferrari negli ultimi tre anni. Juan Manuel Cendoya, responsabile globale Comunicazione, Marketing Aziendale e Ricerca di Santander, ha riconosciuto l'importanza delle sponsorizzazioni nel coinvolgimento dei clienti e nel rafforzamento del marchio, indicando che Santander continuerà a collaborare con vari partner in futuro.
Ferrari N.V. (NYSE/EXM: RACE) ha anunciado la finalización de su asociación con Santander, que será efectiva el 31 de diciembre de 2024. La colaboración, que comenzó en enero de 2022 tras un período anterior de 2010 a 2017, concluirá al expirar el contrato de tres años. Santander ha sido un Socio Premium para la Scuderia Ferrari en Fórmula 1 y ha apoyado el programa Le Mans Hypercar (LMH) de Ferrari.
Lorenzo Giorgetti, Director de Ingresos de Competencia de Ferrari, expresó su agradecimiento por la dedicación y las contribuciones de Santander a los logros de Ferrari en los últimos tres años. Juan Manuel Cendoya, director global de Comunicación, Marketing Corporativo e Investigación de Santander, reconoció la importancia de los patrocinios en el compromiso con los clientes y el refuerzo de la marca, indicando que Santander continuará trabajando con varios socios en el futuro.
페라리 N.V. (NYSE/EXM: RACE)는 2024년 12월 31일부로 산탄데르와의 파트너십 종료를 발표했습니다. 이 협업은 2010년부터 2017년까지의 이전 체결 뒤 2022년 1월에 시작되었으며, 3년 계약이 만료되면서 종료됩니다. 산탄데르는 포뮬러 1에서 스쿠데리아 페라리의 프리미엄 파트너로 활동했으며, 페라리의 르망 하이퍼카(LMH) 프로그램을 지원했습니다.
페라리의 레이싱 수익 최고 책임자인 로렌조 지오르게티는 산탄데르의 헌신과 지난 3년간 페라리의 성취에 대한 기여에 감사의 뜻을 전했습니다. 산탄데르의 글로벌 커뮤니케이션, 기업 마케팅 및 연구 책임자인 후안 마누엘 센도야는 고객 참여와 브랜드 강화를 위한 후원이 중요하다고 인정하면서, 산탄데르는 앞으로 다양한 파트너와 계속 협력할 것이라고 밝혔습니다.
Ferrari N.V. (NYSE/EXM: RACE) a annoncé la résiliation de son partenariat avec Santander, effectif au 31 décembre 2024. Cette collaboration, qui a débuté en janvier 2022 après une précédente période de 2010 à 2017, prendra fin à l'expiration du contrat de trois ans. Santander a été un Partenaire Premium pour la Scuderia Ferrari en Formule 1 et a soutenu le programme Le Mans Hypercar (LMH) de Ferrari.
Lorenzo Giorgetti, Directeur des Revenus de Course chez Ferrari, a exprimé sa gratitude pour le dévouement et les contributions de Santander aux succès de Ferrari au cours des trois dernières années. Juan Manuel Cendoya, responsable mondial des Communications, du Marketing Corporate et de la Recherche chez Santander, a reconnu l'importance des parrainages dans l'engagement des clients et le renforcement de la marque, indiquant que Santander continuera à travailler avec divers partenaires à l'avenir.
Ferrari N.V. (NYSE/EXM: RACE) hat die Beendigung seiner Partnerschaft mit Santander zum 31. Dezember 2024 bekannt gegeben. Die Zusammenarbeit, die im Januar 2022 begann und auf einer früheren Zusammenarbeit von 2010 bis 2017 basiert, endet mit dem Ablauf des dreijährigen Vertrags. Santander war Premium-Partner der Scuderia Ferrari in der Formel 1 und unterstützte Ferraris Le Mans Hypercar (LMH)-Programm.
Lorenzo Giorgetti, Chief Racing Revenue Officer von Ferrari, drückte seine Dankbarkeit für das Engagement und die Beiträge von Santander zu Ferraris Erfolgen in den letzten drei Jahren aus. Juan Manuel Cendoya, globaler Leiter Kommunikation, Unternehmensmarketing und Forschung bei Santander, erkannte die Bedeutung von Sponsoring für die Kundenbindung und Markenstärkung an und wies darauf hin, dass Santander auch in Zukunft mit verschiedenen Partnern zusammenarbeiten wird.
- None.
- Loss of a Premium Partner for Scuderia Ferrari in Formula 1
- End of sponsorship support for Ferrari's Le Mans Hypercar (LMH) program
- Potential reduction in racing revenue due to partnership termination
Insights
The termination of Ferrari's partnership with Santander, while notable, is likely to have a minimal financial impact on Ferrari. Premium partnerships in Formula 1 typically contribute a
The end of Ferrari's partnership with Santander marks a significant shift in the Formula 1 sponsorship landscape. This change opens up valuable real estate on one of the most visible cars in motorsport. For Ferrari, this presents both a challenge and an opportunity. The team will need to leverage its iconic status to attract a new premium partner, potentially at higher rates given the increased global F1 viewership. The mention of Santander's involvement in the Le Mans Hypercar program suggests Ferrari might seek a partner interested in a cross-category sponsorship deal, enhancing the value proposition. This transition period will test Ferrari's marketing prowess and could reshape sponsorship strategies in high-end motorsports.
Maranello, August 30, 2024 - Ferrari N.V. (NYSE/ EXM: RACE) (‘Ferrari’ or the ‘Company’) announces the termination of the partnership between Ferrari S.p.A., its wholly-owned subsidiary, and Santander, effective as of December 31st, of 2024 since the committed three-year contract will end.
The partnership, which began in January 2022 after a previous collaboration from 2010 to 2017, saw Santander alongside our Company in the sporting activities of the Prancing Horse. Santander has been Premium Partner of Scuderia Ferrari in Formula 1 and has been our partner in the Le Mans Hypercar (LMH) programme.
Lorenzo Giorgetti, Chief Racing Revenue Officer of Ferrari, comments: “As our successful partnership with Santander comes to its end, we would like to express our gratitude for their dedication and collaboration during our journey together. They have played an important role in contributing to our achievements over the past three years.”
Juan Manuel Cendoya, global head of Communications, Corporate Marketing and Research of Santander and vice chair of Santander Spain, said: “We are extremely grateful to Ferrari for their partnership over the past three years. Sponsorships play an important role in engaging with clients and reinforcing our brand and we will continue to work with a range of partners in the years ahead.”
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