P1racenews AI automatic summary:
F1’s latest partnership is going to bring in top dollar over the next 10 years.
Formula 1 has secured a new 10-year, €1 billion sponsorship agreement with luxury conglomerate LVMH, known for brands like TAG Heuer and Louis Vuitton. The partnership, set to commence in 2025, signals a changing landscape in F1’s sponsor lineup, as Rolex and Ferrari Trento will be stepping down post the current season. Expected to generate €100 million annually, the deal is set to bring in a total of €1 billion to Formula 1, coinciding with its 75th anniversary in 2025. F1 CEO Stefano Domenicali expressed his excitement, highlighting the shared values of excellence between F1 and LVMH. Domenicali also emphasized the strategic fit between the two entities, aiming to enhance fan experience and the sport’s heritage as F1 expands globally. This collaboration is hailed as a historic milestone, with gratitude extended to Bernard and Frédéric Arnault for their instrumental roles.
