Tag Heuer will replace Rolex as the official timekeeper of Formula One this season, marking the start of a new 10-year partnership with French luxury conglomerate LVMH, the sport announced on Monday.
Tag Heuer, which previously served as F1’s timekeeper from 1992 to 2003, will make a significant return with trackside branding and activations at all 24 races of the season.
Rolex, which had been F1’s official timekeeper since 2013, will now step down after a decade-long partnership.
“I am delighted to welcome TAG Heuer as the official timekeeper of Formula One as they start the next stage of their long history in our sport,” said F1 CEO Stefano Domenicali.
Known for its deep-rooted connections to motorsport, Tag Heuer became the first watch brand to sponsor a Formula One team when it partnered with Ferrari in 1971. It later had a 30-year relationship with McLaren (1985-2015) and has also sponsored Red Bull since 2016.
LVMH’s sponsorship deal, which covers not just Tag Heuer but also Louis Vuitton and Moet Hennessy, is valued at slightly more than $100 million annually over the next decade.
