Real Luxury Signing In The F1 World Cup

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Updated 02/10/2024 23:30 CEST

Transfers are always points of interest for fans of any sport, but sometimes other equally striking signings occur that explain the extent to which this discipline has a media pull around the world. The Formula 1 It generates interest inside and outside the circuits and has long become a highly sought-after showcase in the business world.

If the ‘glamour’ already surrounded everything that surrounds F1, the agreement announced this Wednesday has raised its price to a point that is surely almost unmatched commercially because, starting in 2025, F1 has entered into an alliance for the next 10 years with the world leader in luxury, LVMHthe parent company of such iconic wealth brands as Louis Vuitton, Moet Hennessy and TAG Heuer.

“It is an unprecedented agreement between the world leader in luxury and the pinnacle of motorsport at a time of incredible popularity, cultural relevance and general enthusiasm for F1 as a bridge between global sport and entertainment,” F1 and LVMH say in your statement.

“At the crossroads of the LVMH Group’s values ​​of creativity and excellence with the innovation and high performance of F1, the partnership will bring together the best of these two worlds and provide incomparable experiences,” adds the note from the new partners.

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There are no official figures on the size of this agreement, but some information indicates that it could be around 150 million dollars annually, around 135 million euros, more or less the same as what they paid to be main partners of the recent Paris Olympic and Paralympic Games.

However, a source close to the negotiations told AFP that this amount is exaggerated and that the amount is “below 100 million dollars”, about 90 million euros. Be that as it may, the alliance is for 10 years and, therefore, it is not unreasonable to think that its value will exceed 1,000 million euros.

“People, the search for excellence and the passion for innovation are at the heart of the activity of our brands and F1. In motor sport, as in fashion, watches or wines and spirits, every detail on the path to success,” said LVMH Chairman and CEO, Bernard Arnault.

“Both in our workshops and on circuits around the world it is this relentless pursuit of breaking boundaries that inspires our vision, and this is the meaning we want to give to this great and unique partnership between F1 and our group,” added Arnault. .

“It is an unprecedented agreement between the world leader in luxury and the pinnacle of motorsport at a time of incredible popularity for F1”

LVMH and F1 statement

“Our sport is based on the tireless pursuit of excellence, a value that also lies at the heart of LVMH, so I am delighted to announce that this historic partnership will begin in 2025,” said the current president and CEO of the LVMH. F1, Stefano Domenicali.

LVMH thus joins F1 sponsors such as DHL, Heineken, MSC Croisières, Pirelli and Qatar Airways. The luxury brand Rolex is also on the list of partners, but press reports suggest its departure from the ‘Great Circus’ in favor of Tag Heuer, a brand of the LVMH group and direct competitor of Rolex.