F1 announces $1,100,000,000 worth partnership with French multinational giant

Liberty Media on Thursday announced that Formula 1 is set to get into a partnership deal with LMVH from 2025. As per reports, F1 signed a 10-year partnership worth $1.1 billion [€1 billion] with the French multinational giant, which translates to $110 million [€100 million] annually.

LVMH Moët Hennessy Louis Vuitton SE, popularly known as LVMH, is a French conglomerate company that specializes in luxury goods. The company also represents globally renowned brands such as Louis Vuitton and TAG Heuer.

“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," Domenicali said. "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."

"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," he added.

The partnership has come just ahead of Formula 1's 75th anniversary, which the sport will celebrate in 2025.

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F1 rope in LVMH as they let Rolex go

Visible Rolex branding at the Grand Prix of Monaco, #6 Nico Rosberg (GER, Mercedes AMG Petronas Formula One Team), (Photo by Hoch Zwei/Corbis via Getty Images)

While Formula 1 now has a billion-dollar partnership with LMVH and has ties with brands such as Louis Vuitton and TAG Heuer, the sport will also see its longtime partner Rolex depart.

Rolex is set to cut its ties with the pinnacle form of motorsport after 11 years together. They have been a constant partner of Formula 1 since 2013, including iconic brandings around the Albert Park Circuit and Circuit de Monaco.

Fans can expect to see the branding of TAG Heuer, another luxury watchmaker, as a replacement for Rolex in and around the F1 circuits.