LVMH Holds Talks on Sponsoring Formula 1 in Blow to Rolex
- LVMH CFO confirms discussions with F1 on sponsorship
- F1 timekeeping sponsorship deal among most expensive in sport
A Swiss watch brand owned by French luxury conglomerate LVMH is in talks to take over as the official timekeeping sponsor of Formula 1 motor sports racing, one of the most high-profile and expensive marketing agreements in sport.
Top Swiss brand Rolex has served as the official timekeeping sponsor of Formula 1 since 2013, its signature green and gold adverts becoming commonplace at F1 tracks. The popularity of Formula 1 has exploded during the period driven, in part, by the success of the Netflix series ‘Formula 1: Drive to Survive.’