Formula 1 has a new timekeeper: ROLEX

Rolex, the luxury watch brand has been associated with a host of sports, from golf, tennis, yachts to major motorsporting events such as Bloodhound SCC World Land Speed Records and Grand-Am Series and Daytona 24 Hours in the US. The brand has now been selected as official timekeepers for Formula One from 2013, for a period of 5 years.

In its capacity as F1 Official Time Keepers and Official Timepiece, Rolex will be instrumental in giving time in different locations during each Grand Prix while Rolex brand logo will be prominently positioned across the circuit during each of the F1 races in the coming years.

Rolex takes the place of Hublot who were previous F1 Official Time Keepers and Official Timepiece since 2010. The agreement is stated to be worth around £15 million per annum and was unveiled on Wednesday in a joint announcement made by Bernie Ecclestone CEO of Formula One and Jackie Steward, Rolex ambassador.

This is one partnership that most motoring fans were eagerly awaiting. Something that fans are going to be excited about, specially because Rolex has a strong sporting heritage and a history of sponsoring many major sporting events across the globe.

Source: F1