Formula 1 Confirms Staggering 10-Year Partnership

Formula 1 announces a groundbreaking 10-year, reported $1 billion partnership with luxury goods titan LVMH.

May 4, 2024; Miami Gardens, Florida, USA; Red Bull Racing driver Max Verstappen (1) leads the start of the F1 Sprint Race at Miami International Autodrome. Mandatory Credit: Peter Casey-Imagn Images / Peter Casey-Imagn Images

Formula 1 has announced a ground-breaking partnership with luxury goods titan LVMH, beginning in 2025.

The collaboration heralds substantial changes to the Formula 1 ecosystem, with notable moves such as TAG Heuer, of LVMH’s brand portfolio, replacing Rolex as Formula 1’s official timekeeping partner—a role Rolex has held for 12 years. This shift, however, will not disrupt TAG Heuer’s existing partnerships with Red Bull Racing or the Monaco Grand Prix. Also involved are esteemed LVMH names like Louis Vuitton and Moët & Chandon, poised to play pivotal roles, especially considering the historical context of Moët & Chandon’s Champagne showers on victorious podiums.

This monumental partnership, which is reported to be worth $1 billion, builds upon LVMH’s previous inroads into Formula 1, including Moët Hennessy's noted sponsorship at the Las Vegas Grand Prix in 2023.

Liberty Media president Greg Maffei commented on the partnership:

“LVMH and Formula 1 are two global brands that consistently push the boundaries of creativity and innovation, values core to Liberty Media.

“We were thrilled to work with one of the LVMH Maisons during the Las Vegas Grand Prix last year, and to now expand our relationship with the Group as they become a Global Partner.

“The opportunity to scale our commercial arrangements is emblematic of the vision we have for Formula 1 as the business continues to grow its platform. We look forward to working with Bernard and Frédéric Arnault in the years to come.”

F1 CEO Stefano Domenicali also commented:

“Our sport is founded on the relentless pursuit of excellence, a value that also lies at the heart of LVMH, so I am delighted to announce this historic partnership will begin in 2025.

“As Formula 1 continues its global growth, attracting new and more diverse audiences, the strength and breadth of LVMH makes it the perfect partner for us to work with as we look to continually enhance the experience of our fans and the heritage of our incredible sport.”

Financially, the partnership’s magnitude is unmatched, with projected annual inputs of about $100 million from LVMH, according to the report from Motorsport.com. This latest initiative is part of LVMH's expansion within the sports sector, adding an impressive accolade to its existing sponsorships that include the Olympics and the FIFA World Cup.

Bernard Arnault, Chairman and CEO of LVMH, explained:

“The people, the quest for excellence and the passion for innovation are at the heart of the activity of our Maisons and Formula 1.

“In motorsport as in fashion, watchmaking or wines and spirits, every detail counts on the path to success. Both in our workshops and on circuits around the world, it is this incessant search to break boundaries that inspires our vision, and this is the meaning that we want to bring to this great and unique partnership between Formula 1 and our Group.”