Formula 1 is undergoing a shift in its sponsorship landscape, as Rolex and Ferrari Trento will be stepping down after this season, making way for a new partnership with LVMH starting in 2025.

The new 10-year deal with the luxury conglomerate, which includes iconic brands such as TAG Heuer, Louis Vuitton and Moët & Chandon is worth an estimated $100 million per calendar year and will bring in $1 billion on basic terms to the sport.

This move is LVMH’s newest expansion into sports, joining their sponsorship portfolio that includes the Olympics, Paralympics, Premier League, FIFA World Cup, and the NFL.

F1 CEO Stefano Domenicali said: “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. 

"This is a landmark partnership for both companies and I would like to thank Bernard and Frédéric Arnault for their vision and commitment to bring this to life.”

Liberty president Greg Maffei stated: “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.”

Bernard Arnault, Chairman and CEO of LVMH Group, added: “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.”