The world of luxury watches and Formula 1 go hand in hand. Rich clientele, posh champagne and artful exuberance are mainstay elements of both fields, making the pairing one as classic as fish and chips.
It's no surprise, then, to see a household name like Rolex as the title sponsor of the motorsports series. They've become synonymous with the sport over years of partnership. Every twist and turn on track is set against the iconic backdrop of green and gold.
At least, for now it is. Rumours are persisting that the brand's time as a title sponsor is coming to an end, in a seismic shift for the sport. And it makes total sense.
Let's first look at this from the perspective of Rolex. The whole point of a sponsorship is to drive additional eyeballs to your product or service.
That's great when you're on the rise, but we're talking about Rolex here. It's just about the only thing the average Joe knows about the watch industry, and it certainly doesn't need to be promoted.
While talk of market movement suggests that things are getting better, it's still a tough ask for people to go in and buy a Rolex at the dealer. Instead, a hazy system of waitlists and favours seems to be the way to get what you want. Regardless, with waitlists for popular models supposedly extending into multi-year periods, the brand certainly isn't short of a customer base.
Now, let's think about this from F1's perspective. If you're selling off your main sponsorship space, you want it going to a brand with something to prove. Rumours put the price of this deal at a cool $150 million (approx £117 million; AU$230 million) per year, so it's certainly not cheap.
But when you're engaged with a brand who need that advertising, you can leverage your position. Rolex would likely tell you where to go. TAG Heuer – the brand most widely rumoured to take their spot – have more to gain, and, as such, will be more likely to work with the F1 body.
I'm really excited to see how this plays out. TAG are a wonderful brand with some really fantastic ties to the history of motor racing, and seeing them join the greatest motor sport on the planet would be a massive moment.
