May 4, 2024; Miami Gardens, Florida, USA; Red Bull Racing driver Sergio Perez (11) during the F1 Sprint Race at Miami International Autodrome. Mandatory Credit: Peter Casey-USA TODAY Sports / Peter Casey-USA TODAY Sports

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Formula 1 is reportedly set for a significant shift in sponsorship as Rolex, the iconic timekeeping mainstay, prepares to conclude its partnership with the sport at the end of the current season. According to reports from Decalspotters, a reliable source in motorsport sponsorship and branding, the luxury watchmaker’s logo will make its final appearance on the famous Grand Prix start clock this year.

Stepping into Rolex’s considerable shoes is reported to be LVMH (Moët Hennessy Louis Vuitton). Known for managing high-profile luxury brands, LVMH plans to bring its TAG Heuer brand to the forefront of F1 timekeeping beginning next season.

Rolex first joined @F1 in 2011, then paying only $10 million annually. Their current deal is said to be worth $50 million.

The watch brand enjoys trackside branding at all races, also including title sponsorship at select events.@ROLEX #F1

— Decalspotters (@decalspotters)

July 10, 2024

Decalspotters shared:

“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.

“Both TAG Heuer and Hublot have both previous and current involvement in the sport.

“TAG Heuer is a long-time partner of Red Bull Racing and the Monaco GP – while Hublot were a partner of Ferrari from 2011 to 2020.

“Rolex first joined F1 in 2011, then paying only $10 million annually. Their current deal is said to be worth $50 million.

“The watch brand enjoys trackside branding at all races, also including title sponsorship at select events.”

TAG Heuer’s affiliation with Formula 1 dates back to its 2016 collaboration with Red Bull Racing. However, with TAG Heuer’s contract slated to expire at the end of 2024, the reported timing of the Formula 1 partnership works perfectly.

The transition appears to be a robust commitment by LVMH, with an expenditure of $150 million annually earmarked for the new sponsorship arrangement starting in 2025.

One of the most pressing questions surrounding this significant change is whether LVMH will maintain its partnership with Red Bull Racing or redirect all its resources towards a more encompassed Formula 1 sponsorship.