F1 to drop legendary name for $150 million a YEAR deal

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F1 to drop legendary name for $150 million a YEAR deal

A major F1 name has been dropped

Originally written by Sheona Mountford. This version is a translation.

Friday 19 July 2024 20:00

A major F1 change has been announced as a global name has been dropped from the sport.

The 2024 F1 season has been dramatic on and off-track with six different drivers taking race victories so far this year.

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In addition to this the 2025 driver market has been chaotic after Lewis Hamilton announced his switch to Ferrari displacing their current driver Carlos Sainz.

Since then, drivers have switched teams, with new faces joining the F1 grid for 2025, as old ones depart.

Lewis Hamilton will move to Ferrari in 2025

Formula 1 reveals major sponsorship change

According to Coronet, French luxury goods company LVMH will replace Rolex as Formula 1’s global partner, in a new contract that is reportedly worth $150 million per year.

Rolex will step down as the official timepiece of F1 in 2025

The LVMH Group owns around 75 luxury brands, including Dior, Hublot and Tag Heuer, with the latter already enjoying a partnership with Red Bull as their official timekeeper.

Hublot has also had partnerships with Williams and Ferrari, with the watchmaker also poised to replace Rolex.

Rolex will leave the sport after partnering F1 for over a decade, with their reason for exiting unknown.

Lewis Hamilton Ferrari F1 Carlos Sainz