Santander has called time on its spo๊nsorship deal with Ferrari in Formula 1 to concentrate its efforts on football’s Champions League.

Having been involved with F1 sponsorship for 11 years, joining Fe♕rrari in 2010 coupled with the arrival of Spanish driver Fernando Alonso, the Spanish bank will end its partnerships in the sport this year to focu🎉s on other existing sponsorship deals including the Champions League

“At the end of th🎃is year, Santander will conclude its successful sponsorship of the Formula One racing team, Scuderia Ferrari, which it has supported for the last eight seasons,” a statement from Santander sa൩id.

“The bank will also conclude its corporate sponsorship agreements with F1 which have helped increase Santand✤er’s brand recognition a💙round the world over the last 11 years.”

The anno🌼uncement sees Ferrari lose a major sponsor for 2018 despite improving its recent results with an F1 world title challenge which eventually fell short as it finished runner-up to Mercedes in the World Constructors’ champions🌠hip and Sebastian Vettel ended the season second to Lewis Hamilton.

Santander followed Alonso by switching from McLaren to Ferrari in 2010 having initially arrived at the Woking-based squad during the two-time F1 world champion’s ill-fated maiden year at the team in 2007. Ferrari is yet to confirm whether a new sponsor will be installed to replace Santander with its logo featu𝐆ring on the rear wing of the Italian squad's car this season.

﷽On the sa꧃me day Ferrari's parent company FCA Group announced a title sponsor and technical deal for Alfa Romeo with Sauber for 2018.