Speculation has intensified that key McLaren-Mercedes sponsor Santander is to jump ship and join forces with Ferrari in 2010 – taking former double Formula 1 World Champion and disaffected Renault incumbent Fernando Alonso with it.

It has previously been suggested that the leading Spanish bank – which also sponsors a number of grands prix – is on its way from Woking to Maranello, in a deal reputed to be worth some €25 million per season [see separate story – click here]. That figure is €5 million more than McLaren currently receives, according to Spanish daily newspaper Publico.

Indeed, there have been rumours that the move could take place as early as the end of the current season – something which Santander insists is not a possibility, with the contract with McLaren going until the end of 2009.

“The bank has always wanted to be with Alonso,” F1SA quotes a spokeswoman as having admitted, “but the sponsorship contract was done with McLaren and not with Alonso.”

Whilst it is understood an agreement between Ferrari and Santander has not yet been signed, it is equally believed to be a matter of 'when' rather than 'if'.

'[Santander] has already informed the team of Ron Dennis and has a deal with the Italians from 2010,' reports Spanish newspaper ABC, whilst business newspaper Expansion adds: 'The new deal with the Spanish bank could coincide with Alonso leaving Renault to join [Ferrari].'