Santander jumps into 2012 F1 season but comes under scrutiny

WELL BEFORE the clear up of the 2011 season is complete, Spanish bank Santander has taken out large adverts in the financial press looking forward to 2012. Of course this could simply be genuine excitement about the sport, but Frontiers suspects it may have an ulterior motive. The financial giant has been required by regulators to boost its capital base, the amount of money it keeps to support its solvency. Its home market in Europe is under enormous financial pressure and the financial markets have all but seized up in what is effectively a rerun of the 2008 credit crunch. Having a strong balance sheet is therefore essential and Santander has responded by putting minority stakes in some of its worldwide interests up for sale. Of particular interest is the sale of 8% of its Brazilian division so the appearance of the adverts on the morning after the Interlagos Grand Prix may be more than just coincidence. Which just goes to show once again that sponsorship can function on a number of different levels and work across many different groups.