Sep.9 (GMM) The Spanish bank Santander has extended its sponsorship deal with Ferrari through 2017.

Fernando Alonso's Ferrari deal also runs for several more years.

To mark the Santander extension, Ferrari will run a rear wing at Singapore with the words 'World's Best Bank'; a title dreamed up by the financial magazine Euromoney.

"This alliance is made up of the best team in the world and the best bank in the world," said Santander president Emilio Botin.

Also speaking with the press on Saturday, Ferrari president Luca di Montezemolo said in future he would like to see shorter grands prix, held later in the day.

His comments follow his meeting at Maranello on Friday with Bernie Ecclestone and Jean Todt.

"We have to look ahead," said Montezemolo, "starting from the point of view that we have an economic crisis in the world and the world is different to what it was 10 years ago."

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