Santander’s Strategic Shift: Refreshing Sponsorship in Formula 1

Santander’s move to end its partnership with Ferrari and rumoured new partnership with Williams in 2025 is a prime example of how brands can reinvigorate their sponsorship strategies while maintaining visibility in a competitive arena like Formula 1. Long-term sponsorships typically build deep brand associations but can also risk becoming stale, especially when the primary activation is logo exposure.

The decision to potentially switch from Ferrari to Williams highlights the importance of keeping sponsorships fresh and relevant. While Ferrari has long been a prestigious partner for Santander, the move to Williams, especially with the connection to Spanish driver Carlos Sainz, offers a new narrative for the brand. It allows Santander to stay connected to Formula 1's global audience while also creating fresh headlines and new content.

Juan Manuel Cendoya, Santander’s Global Head of Communications, emphasised the role of partnerships in the banks overall brand strategy, stating, "Sponsorships play an important role in engaging with clients and reinforcing our brand." He expressed gratitude for the partnership with Ferrari, saying, "We are extremely grateful to Ferrari for their partnership over the past three years." However, he also hinted at their future direction by adding, "We will continue to work with a range of partners in the years ahead."

Formula 1 presents a unique sponsorship opportunity because all teams race together during the same broadcasts. Unlike other sports, where brand exposure depends on team performance or match schedules, Formula 1 ensures consistent visibility for sponsors across all races. This means that even with a switch from a top team like Ferrari to a team like Williams, Santander can still maintain a strong presence in the sport while revitalising its brand image.

By shifting their sponsorship, Santander demonstrates the importance of adaptability in maintaining an effective sponsorship strategy. It shows that even established partnerships benefit from a strategic refresh to avoid stagnation and ensure ongoing audience engagement. This move underscores the need for brands to continuously evaluate their sponsorships, ensuring they align with current goals and market dynamics.

Santander’s potential shift from Ferrari to Williams exemplifies how a well-timed change can breathe new life into a sponsorship strategy. It highlights the strategic thinking required to keep sponsorships relevant and effective, particularly in a sport like Formula 1, where sponsors compete for exposure and relevance. By staying adaptable and open to change, brands can ensure their sponsorships continue to deliver value and resonate with their target audiences.