Although it has yet to be officially confirmed by the Woking outfit, Spain's Banco Santander has revealed that it has agreed a five-year sponsorship deal with McLaren.

In September, at a time when speculation linking the bank with McLaren first arose, it was announced that Banesto, part of Grupo Santander, had agreed an exclusive deal with Formula One Administration Limited (FOM) which will allow it to use the F1 brand on various financial products in Spain.

Although Banco Santander has not revealed details of the deal, the Spanish media claims that its branding will appear on the cars and drivers' overalls next season.

Earlier this month, McLaren revealed a sponsorship deal with Spanish insurance giant, Mutua Madrilena.

Spanish interest in the British team comes at a time when the Woking outfit awaits the arrival of double world Champion Fernando Alonso, who stunned the F1 paddock when he signed a surprise deal last December.