Australian GP extends title sponsorship deal with Rolex

Australian GP,Formula One,Formula One Australian Grand Prix,Rolex,Sports Business News

The Formula One Australian Grand Prix and luxury watch brand Rolex have renewed their title sponsorship, extending the partnership to the eighth consecutive year.

Rolex has also been a global partner and official timepiece of Formula One since 2013. The brand also has personal contracts with several drivers.

Formula 1 chairman and chief executive Chase Carey, announcing the extension of the contract, has also revealed that the 2020 season will once again start at Melbourne’s Albert Park Circuit. The venue has hosted the race every year in Australia since 1996, with next season being its 25th anniversary.

“We are pleased to announce that, as has been the case for many years now, the next FIA Formula One World Championship season will get underway in Melbourne,” Carey said.

Also Read: Pirelli extends deal to stay official Formula One tyre till 2023

“The Albert Park circuit is one of the most popular venues on the calendar, much appreciated by everyone who works in Formula One.

“There can be no better place to start the 2020 season, which will be significant as the sport will celebrate its 70th anniversary.”

On the renewed Rolex partnership, Carey added: “We are also pleased that Rolex, who have been one of our Global Partners for many years, will continue to be the title sponsor of the 2020 Australian Grand Prix

This year’s Australian Grand Prix drew 324,100 people through the gates over the four-day event, up ten per cent on 2018, to watch Mercedes’ Valterri Bottas take the first win of the season.

Also Read: Tata expands Formula 1 presence with Williams Racing tie-up

Designer Parfums announces official partnership with Formula 1

adidas uses Formula 1 innovations to develop powerful hockey stick