Spanish banking group Santander has switched its Formula 1 team sponsorship from Ferrari to Williams after driver Carlos Sainz Jr made the same move.

Williams said the partnership was a “multi-year” agreement, believed to be in line with Sainz’s contract at the Oxfordshire-based team, which runs until 2026 with the option of an extension.

Santander’s branding will be on the FW46 when Sainz undertakes his first test as a Williams driver this week in Abu Dhabi, and on next year’s car, the FW47.