Rolex On Final Lap With Formula 1 Sponsorship, LVMH To Replace With TAG Heuer

2024 is set to be the end of the esteemed partnership between watchmaker Rolex and motor racing sport Formula 1, according to a report on Sports Illustrated. Filling these shoes is LVMH’s TAG Heuer who is set to take up pole position as the race’s official timekeeper. According to Decalspotters on social platform X, “Rolex could end its Global Partnership with F1 at the end of this year, multiple sources indicate. LVMH Group, who own brands such as TAG Heuer and Hublot, are reported to be the replacement starting in 2025. The new deal is reportedly worth $150 million annually.”

Rolex’s commitment to the iconic Formula 1 race began in the year 2011 with the handsome some of $10 million annually and has seen it balloon up to $50 million in the current period. This included visible trackside branding and title sponsorship at selected events. Rolex’s departure from the pinnacle of motorsports comes at a time when the brand is deeply involved in other major sponsorships, such as the prestigious Wimbledon tennis tournament. TAG Heuer’s affiliation with Formula 1 is well-established, notably through its long-term partnership with Red Bull Racing and the Monaco GP. However, with TAG Heuer’s contract with Red Bull set to expire at the end of 2024, the timing of the new Formula 1 partnership aligns perfectly.

The transition marks a robust commitment by LVMH, earmarking $150 million annually for the new sponsorship arrangement starting in 2025. This significant investment prompts speculation on whether LVMH will maintain its relationship with Red Bull Racing or focus entirely on a comprehensive Formula 1 sponsorship. As we await official confirmation, the reported departure of Rolex and the arrival of LVMH’s TAG Heuer mark a new chapter in the ever-evolving world of watches.