"Krone" column

The new “Formula Luxury”

The contract with Ferrari sparkling wine expires - after that, Lando Norris & Co. can celebrate with champagne again.(Bild: AFP/MOHD RASFAN)

Embrace, billions - in the world of sports business, the "premier class" of motorsport has always been one of the "global players". But these days it has once again put on a "crown", mutating into "Formula Luxury"!

At the headquarters of the International Automobile Federation (FIA) on the Place de la Concorde in Paris, Formula 1 Managing Director Stefano Domenicali, Greg Maffei, CEO of rights holder Liberty Media, and Bernard Jean Étienne Arnault, President of luxury goods group LVMH, signed a ten-year deal with a total investment volume of one billion dollars. The group includes luxury brands such as Louis Vuitton, Dior, Moët & Chandon, Sephora, Bvlgari Parfums, Givenchy and TAG Heuer.

Champagne returns
This means that "real" champagne will once again be sprayed at the award ceremonies instead of Ferrari Trento sparkling wine (the contract expires at the end of 2025). And time is also running out for Rolex after more than ten years ...

"This partnership is a milestone for both companies, with Formula 1 continuing its global growth," said Domenicali. And Maffei emphasized: "LVMH and Formula 1 are two global brands that continue to set new standards. Creativity and innovation are core values of Liberty Media."

In two weeks' time, the billion-dollar circus will return to the tarmac in Austin - with good economic news. Record attendance (150,000 fans) is already expected for the sprint race on Saturday. One reason for this is the performance by rap icon Eminem right next to the track. "Advance sales are even better than last year, when Taylor Swift was on stage," says track manager Epstein.