Rolex to Leave F1 Sponsorship

Reports indicate that Rolex may end its 11-year global sponsorship of Formula 1 next season, with LVMH poised to step in. This information was first reported by Coronet magazine, citing sources in Geneva. 

Rolex has been the official timekeeper for Formula 1 since 2013, consistently promoting its brand at all racetracks while allowing other brands to be associated with teams and drivers. According to Forbes, Rolex invests approximately $50 million annually in this partnership.

Image Source: Rolex

The sport has experienced a substantial increase in popularity, attracting an average of 70 million global viewers per Grand Prix last year. This growth can be attributed in part to the success of Netflix's "Drive to Survive," which has broadened F1's audience from a niche market to the mainstream.

Wristshot from Miami GP 2024

As F1's value increases, organizers seek higher sponsorship revenues. While Rolex leads the global watch market, it faces tough competition from LVMH, whose 75 brands generated €86.4 billion in revenue last year, dwarfing Rolex's $13 billion in 2021.

If Rolex were to exit, TAG Heuer, an LVMH brand with strong ties to Formula 1, could take the lead. TAG Heuer has a deep history with the sport, dating back to 1969, and has recently highlighted its racing heritage through collaborations, such as the relaunch of the Formula 1 model with Kith.

Inside Tudor Booth at Watches & Wonders 2024 

Even if Rolex ends its F1 sponsorship, it may maintain a connection through Tudor's sponsorship of Visa Cash App RB and the new Ceramic Black Bay "Blue." Neither Rolex nor LVMH has commented on these rumors yet.

Final Thoughts

I was surprised to hear the news as a fan of both F1 and Rolex. Nevertheless, I am excited to see the new official timekeeper for the sport. TAG Heuer is my top choice due to its rich history with F1 and its continued association with Monaco. Time will tell, so stay tuned for more updates on this topic. For Silverstone race weekend, I wore my Panda Daytona on Everest Racing Leather.