Tag Heuer will replace Rolex as Formula One’s official timekeeper this season as part of a new 10-year partnership with French luxury giant LVMH, the Liberty Media-owned sport announced on Monday.
Formerly F1 timekeeper from 1992 to 2003, the brand will have a significant presence across the season’s 24 races with on-track activations and branding.
High-end Swiss watchmaker Rolex has been a partner of Formula One since 2013.
“I am delighted to welcome TAG Heuer as the official timekeeper of Formula One as they begin the next stage of their long history in our sport,” F1 chief executive Stefano Domenicali said in a statement.
Tag Heuer was the first watch brand to sponsor a Formula One team, joining forces with Ferrari in 1971 before a 30-year partnership with McLaren, from 1985 to 2015. The brand then sponsored Red Bull starting in 2016.
LVMH’s sponsorship deal with Formula One, announced last October and valued at just over $100 million a year for a decade, also covers its Louis Vuitton and Moët Hennessy brands.