Just in case you still doubt the reach of the astounding and unbelievable financial scandal the is the Madoff case in NY, one of the major Formula 1 sponsors, Spain's Banco Santander is reported to have had an exposure through one of it's subsidiary hedge funds of 2.33 Billion Euros to Madoff's company . Even though the bank's own losses may be of "only" 17 million Euros, the implications for Santander's future potential involvement in Formula 1 could be huge.
Santander, Mclaren's sponsor in recent seasons had recently announced future plans to sponsor Ferrari and of course have been instrumental with Fernando Alonso's career.
On a side note, in recent weeks Honda left F1, Subaru and Suzuki left WRC, Audi and Porsche left ALSM... There is going to be a lot of talent looking for rides in NASA club racing if this keeps up!
Here is a clip of Madoff perfectly illustrating the Italian saying:
"La faccia come il culo".
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