Entrance to the Formula 1 paddock.

F1 has announced a major ‘global partnership’ – kicking in from F1 2025 – with LVMH in a reported billion-dollar deal. 

The series has arguably never been more popular than it is right now, a boom period triggered by the success of Netflix’s hit docuseries Drive to Survive. Formula 1 has now taken another giant stride by striking a deal with luxury brands group LVMH, in a deal reportedly worth a whopping $1billion.

Formula 1 strikes lucrative $1billion LVMH deal

This new ‘global partnership’ carries a reported value of $100million per season for Formula 1 – creating that $1billion pot over its 10-year term – and is set to feature a range of LVMH’s iconic Maisons, such as Louis Vuitton, Moët Hennessy and TAG Heuer, this link-up referred to as an “unprecedented agreement”.

One brand name which stands out particularly in that crowd is TAG Heuer, considering that rival Rolex currently serves as the official timepiece of Formula 1.

Various outlets are suggesting that Rolex will depart at the end of F1 2024.

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Greg Maffei, CEO of F1’s commercial rights holder Liberty Media, said: “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 [Chairman and CEO of LVMH Group and CEO of LVMH Watches respectively] in the years to come.”

Formula 1 president Stefano Domenicali added: “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.”