JULY 10, 2024

F1 set to lose major sponsor Rolex?

Formula 1 could be set to lose one of its biggest global sponsors, according to the Swiss newspaper Blick.

The deal with the well-known luxury Swiss watchmaker Rolex, involving official timekeeping, dates back well over a decade, with F1 legend Sir Jackie Stewart instrumental in the F1 link-up at the time.

I proposed that they support the entire series and it was one of the best choices they could have made, Stewart, now 85, said.

Blick newspaper declared on Tuesday: "Is Rolex withdrawing from Formula 1?

Rumours are circulating in Geneva that Rolex is withdrawing as a sponsor. An LVMH brand is set to step into the breach.

French multinational LVMH's full identity is Moet Hennessy Louis Vuitton, including watch brands Tag Heuer and Hublot.

(GMM)