FORMULA ONE bosses have penned a $1BILLION deal that will see a major change to podium proceedings. F1 chiefs have put pen to paper on a £750m with French company LVHM - known in full as LVMH Moet Hennessey Louis Vuitton SE. The sponsorship deal, which is the most lucrative in the sports' history, was reportedly agreed after months of negotiations by F1 chief executive Stefano Domenicali and members of the luxury goods company.
LVMH, valued at over £375BILLION , are best known as the owners of luxury brands such as Louis Vuitton, Dior, Tiffany & Co and Givenchy. While they are also the owners of champagne brand Moet & Chandon, leading to reports that champagne could be returning to the F1 podiums for the first time since 2021. Drivers have been spraying Italian sparking wine to toast their successes for the past three years thanks to an association with Italian wine makers Ferrari Trentino.
READ MORE ON F1 But their new deal with LVHM, which is due to begin in 2025, is set to put Champagne back in the hands of race winners going forward. Of course, champagne will not be used in the Middle Eastern races - where alcohol is banned - with rose water expected to continue as its replacement. LVHM are also the owners of a number of other well known champagne brands including Dom Perignon, Veuve Clicquot and Champagne Mercier.
The Mail report that the deal has been in the making for over a year. Most read in Motorsport CASINO SPECIAL - BEST CASINO WELCOME OFFERS While it's also cla.
