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Ferrari to announce Santander sponsorship

Spanish banking group Santander is to be announced today as the new title sponsor of the Ferrari Formula One team.

Associated Press reports that a press conference has been arranged for tomorrow, ahead of the Italian Grand Prix at Monza, at which Ferrari president Luca di Montezemolo and Bank of Santander president Emilio Botin, are to be present.

Santander currently sponsors Ferrari rivals McLaren under a three-year deal ending with this season. The existing deal had been inked after Spanish double world champion Fernando Alonso signed with McLaren. The relationship between the driver and the team ended after one season. The expected Santander-Ferrari announcement is fuelling rumours that Alonso will join the Italian team.