End of an Era: F1 Shifts Gears with Over $1 Billion LVMH Deal, Bidding Farewell to Iconic Rolex Partnership

F1 to phase out classic Rolex crown imagery in 2025 following a deal potentially exceeding $1 billion.

Formula 1 has just revealed a significant sponsorship agreement with the high-end luxury conglomerate LVMH, succeeding Rolex in this role.

Bloomberg reports that the agreement might exceed a value of $1 billion, as LVMH Moët Hennessy Louis Vuitton SE is set to back Formula 1 races starting in 2025.

LVMH is the parent company of luxury brands such as Louis Vuitton, Moët Hennessy, and TAG Heuer.

This marks the conclusion of Rolex's participation in Formula 1, where the Swiss watchmaker has served as the official timekeeping sponsor of the sport since 2013.

The recognizable Rolex emblem has led to many memorable images featuring Formula 1 racers, like Lewis Hamilton on the victory stand, with the noted symbol displayed prominently overhead.

F1 has announced that additional information about the collaboration will be revealed in early 2025.

Commenting on recent developments, Formula 1's Chief Executive Officer, Stefano Domenicali, stated: "The core of our sport is the continuous quest for perfection, a principle that is equally central to LVMH. Therefore, I am thrilled to reveal that this groundbreaking collaboration is set to commence in 2025.

"With Formula 1 expanding its reach worldwide and drawing in varied and broader fan bases, the extensive capabilities and influence of LVMH position it as an ideal collaborator for us. Our goal is to constantly improve our spectators' experience and preserve the rich legacy of our remarkable sport."

"This partnership marks a significant milestone for both firms, and I want to express my gratitude to Bernard and Frédéric Arnault for their foresight and dedication in making this happen."

Liberty Media's CEO, Greg Maffei, commented, “Both LVMH and Formula 1 represent international brands known for their relentless pursuit of innovation and creativity, principles that are fundamental to Liberty Media.

"We were excited to collaborate with an LVMH Maison at the Las Vegas Grand Prix last year, and now we're delighted to broaden our partnership with the Group as they step into a Global Partner role."

"The chance to expand our business agreements reflects our ambitious outlook for Formula 1 as the enterprise further develops its platform. We are eager to collaborate with Bernard and Frédéric Arnault in the forthcoming years."

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