In a groundbreaking move, LVMH Moët Hennessy Louis Vuitton has signed a 10-year global partnership with Formula 1, marking a significant shift in the sport's sponsorship landscape. This deal, reportedly worth over $1 billion, replaces the previous sponsorship by Rolex. As part of this agreement, Champagne will make a return to the podiums at grand prix events starting in 2025. This partnership solidifies LVMH's growing influence in major sporting events, having recently taken over sponsorship roles at the Paris Olympics, and now expanding its footprint in Formula 1.