Spain's Banco Santander has announced it will sponsor the McLaren Mercedes team next season after agreeing to a five-year deal.
Although the bank did not reveal any financial details, reports in the Spanish media claim the deal is worth 10 million Euro ($12.7 million) per season.
The largest Spanish banking group said its branding will appear both on the cars and the drivers' overalls during the 2007 season.
Banco Santander becomes the second Spanish company to join McLaren this month, after the news that Mutua Madrilena has switched from Renault to the British squad, following world champion Fernando Alonso.
Mutua Madrilena is also a shareholder in the Santander banking group.