A new era is dawning in Formula 1 sponsorship as Rolex prepares to end its long-standing partnership with the premier motorsport series. The luxury watchmaker, synonymous with prestige and precision, has reportedly been paying a hefty €50 million annually for the privilege of being the official timekeeper.
However, after this season, the iconic Rolex clock will no longer be the familiar countdown to the start of a Grand Prix. In a significant shift, LVMH Group, the global luxury conglomerate, is set to take over as the new title sponsor. The deal, rumored to be worth a staggering $150 million annually, will see LVMH’s renowned watch brand, TAG Heuer, stepping into the spotlight.
This marks a major coup for Formula 1, which continues to elevate its global appeal and commercial value. The increased sponsorship fee is a testament to the sport’s growing popularity and its ability to attract top-tier brands. While Rolex’s departure will undoubtedly be felt, the arrival of TAG Heuer, with its strong presence in the world of sports and luxury, promises to inject new energy into the series.
As the 2024 season draws to a close, fans will be eagerly anticipating the start of a new chapter in Formula 1’s history, marked by a fresh partnership that promises to be as exhilarating as the races themselves.
