At the end of this season, the official Formula 1 stopwatch, which has been a fixture for several decades, will depart the top motorsport competition. A devastating exit for Formula One, which loses one of its main sponsors. The LVMH group might be considering applying for the job.
As thrilling battles rage on the track, significant shifts are occurring behind the scenes in Formula 1. One notable change is the departure of one of the sport’s most iconic sponsors, Rolex. The renowned Swiss watchmaker has decided to end its partnership with Formula 1 after the 2024 season. This decision marks a poignant end to a relationship that has spanned many years, supported by influential figures such as three-time world champion Jackie Stewart. Stewart, instrumental in forging the partnership, once remarked, “I suggested that they support the whole series, and it was one of the best choices they could have made.”
Rolex’s exit will leave a void, particularly during those electrifying moments when the clock counts down to the formation lap, heightening fans’ anticipation for the race start.
In place of Rolex, LVMH (Louis Vuitton Moët Hennessy) is poised to step in, bringing its well-known brand Tag Heuer to the forefront. Tag Heuer has been a familiar name in Formula 1, serving as Red Bull’s official timekeeper, watch, and performance partner since 2016. Rumors circulating in Geneva suggest that LVMH, which also owns Hublot, will take over as the official sponsor.
To secure this prestigious sponsorship, LVMH is expected to pay $150 million per year starting in 2025, a figure three times higher than Rolex’s current contribution. This substantial financial commitment likely influenced Rolex’s decision to step back. It remains to be seen whether LVMH will also continue its sponsorship of Red Bull while taking on the role of Formula 1’s official sponsor.
Despite the swirling rumors, Rolex has remained silent on the matter. When contacted, the company declined to comment, neither confirming nor denying the reports. As the countdown to Rolex’s departure begins, fans are left to reflect on the end of an era and anticipate the new chapter LVMH will bring to the sport.
