Rolex and Formula 1 heading for a split
The official Formula 1 stopwatch, present for several decades, will leave the premier discipline of motor sport at the end of this season. A painful departure for F1, which loses one of its biggest sponsors. The LVMH group could be interested in the position.
There is movement also outside the track. Indeed, while the battles are in full swing at the front of the race, behind the scenes, some decisions are made, including that of Formula 1 to part ways with one of its global sponsors, namely Rolex. According to the Blick newspaper, Rolex has even already made the decision to leave Formula 1 at the end of the 2024 season. A strong and sad choice for an iconic brand that has been an integral part of this discipline for many years and was supported by some drivers, such as the British three-time world champion Jackie Stewart, who played a decisive role in the partnership between the two parties.
« I suggested that they support the whole series and it was one of the best choices they could have made », confided the former driver with 27 victories. With this departure, Formula 1 deprives itself of certain moments that have become essential, especially when all the viewers’ eyes are fixed on the big clock on the circuit indicating the start time of the formation lap, raising excitement and adrenaline, knowing that the start of the race is now imminent.
According to some sources, notably Decalspotters, the famous Swiss watchmaker will make way for a competitor brand, LVMH (Louis Vuitton Moët Hennessy), which notably owns the brand Tag Heuer, well known to Formula 1 enthusiasts as, since 2016, the official timekeeper, official watch, and performance partner of Red Bull.
« Rumors are circulating in Geneva that Rolex is withdrawing as a sponsor. An LVMH brand is about to take over. » Even though there is no official announcement, LVMH, which also owns another watch brand in the form of Hublot, is widely expected to succeed Rolex.
For this, the French brand will have to pay 150 million dollars per year to Formula 1 in terms of sponsorship starting in 2025, which is three times the amount paid by Rolex. A colossal sum that probably explains the withdrawal of the Swiss watch brand. Therefore, we still do not know if they will continue to sponsor Red Bull at the same time as being the official sponsor of Formula 1. So, there are only a few months left to enjoy Rolex within Formula 1.
No comment from Rolex.
Contacted by Motors Inside, Rolex’s communication did not wish to comment on the subject: “We have no comment to make.” The Swiss company therefore does not deny the information at this stage.
