Spanish banking giant Banco Santander will become title sponsor of the British Grand Prix this year, the McLaren team have confirmed.
Rumours about Banco Santander's backing first emerged last month, when there were reports it had struck a £6 million deal with Formula One's commercial rights holders to sponsor the Silverstone event.
But despite no official confirmation of the deal, a report in the latest issue of McLaren's own magazine Racing Line has said the deal is done. Banco Santader is one of the Woking-based team's sponsors.
The report said: "Banco Santander is expanding its involvement in Formula One with title sponsorship of the British Grand Prix."