In a brief statement this morning, Spanish bank Santander confirmed that its relationship with the Ferrari F1 team is at an end, and instead it is to become an official sponsor of the UEFA Champions League.

The agreement begins next season (2018/19) and runs for three years to 2020/21.

"The UEFA Champions League is the world's most prestigious football club competition, with mass audiences in Santander's main markets in Europe and the Americas," read the statement. "The UEFA Champions League final is also the most viewed annual sporting event, watched live by more than 160 million people. The competition has more than 100 million followers in social media.

"Santander will have the rights to pitch-side and television advertising spots, as well as tickets, client hospitality events and other rights," said Executive Chairman, Ana Botín as she signed the agreement in Brazil today alongside a UEFA representative. Also present were two legends of football: Brazil's Ronaldo who was there in person and Pelé who appeared via video link.

"Santander's partnership with the UEFA Champions League, the world's most global and aspirational sporting competition, builds on our support of Libertadores and, more recently, Racing Santander, the local football team of the Cantabrian city where our bank was founded 160 years ago," said Botin. "We love sport. Our free-time exercise, which we do to challenge ourselves to be better, the weekend match we watch with family and friends, our loyalty to a club and the excitement of the spectacle.

"Ferrari and F1, to whom we are very grateful, have played an important role at Santander over the past 10 years. We will continue our support of sport because it is a valuable way to contribute to the prosperity of the communities where we work."

Santander will conclude its sponsorship of Ferrari, which it has supported for the last eight seasons, at the end of the year. The bank will also conclude its corporate sponsorship agreements with F1 which have helped increase Santander's brand recognition around the world over the last 11 years.

Maybe it was the new logo

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READERS COMMENTS

1. Posted by charliejulien, 02/12/2017 8:52 (moderated by an Adminstrator, 02/12/2017 8:58)

"This comment was removed by an administrator as it was judged to have broken the site's posting rules and etiquette."

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2. Posted by Spindoctor, 01/12/2017 15:03 (moderated by an Adminstrator, 02/12/2017 8:58)

"Who can blame them?
Formula1 & Ferrari have huge "Brand Recognition", but The Champions League is, well, in a Different League.

Umpteen hundred million will watch the Champions League throughout the competition, and Santander will be plastered everywhere. That (as the jargon goes) is a lot of eyeballs, many more than F1 can (and probably ever will) muster."

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3. Posted by Stitch431, 29/11/2017 12:05

"Probably because of that ridiculous HALO thingy ..."

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4. Posted by Ro, 29/11/2017 11:36

"Are they the first to jump ship after the takeover by Liberty ? Who is going to be next ?"

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Official: Santander drops Ferrari for football

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