The days of Rolex are over: 'Red Bull sponsor makes deal with F1'
F1 News
- Ludo van Denderen
It is a familiar scene: before the 20 F1 drivers set their cars in motion, the camera pans to a large clock with a Rolex logo. For seconds, viewers at home watch as the hands tick to the exact hour and the warm-up lap for the Grand Prix gets underway. That familiar image looks set to disappear after this year.
Indeed, Decalspotters, which focuses on sponsorship and branding in motorsport, reports that Rolex is quitting after the current F1 season. Instead of Rolex, a major competitor, namely LVMH, will come on board as the official sponsor of the time. This company is known for its TAG Heuer brand.
TAG Heuer at Red Bull Racing
This brand is no stranger to Formula 1. In 2016, Red Bull signed a deal with TAG Heuer to become Red Bull's Official Timekeeper, Official Watch and Team Performance Partner. Part of this deal included rebadging the Renault engine to a TAG Heuer engine. After Max Verstappen 's team switched to the Honda engines, TAG Heuer stayed on board as a sponsor. This partnership contractually expires at the end of 2024.
Reportedly, LVMH Group, which also has the Hublot brand in its portfolio, will pay $150 million annually to Formula 1 for the sponsorship from '25. It is unclear whether the company plans to extend its commitment to Red Bull beyond this season, or whether the focus will be entirely on Formula 1 as a whole.