Dec 05, 2012 at 02:10 PM
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Formula One Names Official Timekeeper

Rolex, a major player in prestigious events around the world such as golf (e.g. The Open Championship), tennis (e.g. Wimbledon) and yachting (e.g. Rolex Sydney Hobart), has signed what is perhaps its most global partnership to date. The luxury watchmaker will become a major long-term partner of Formula 1 in 2013 as the sport's Official Timekeeper and Official Timepiece.

Rolex officials say it is part of a strategic move to focus its sponsorship activities on ventures chosen for their strong symbolic value and their global resonance.

“This is an exciting step for us at Rolex as the fit between Formula One and our brand feels very natural and, like all great partnerships, needs little explanation,” said Gian Riccardo Marini, Chief Executive Officer of Rolex SA. “In our respective fields, Rolex and Formula One embody the spirit of adventure, superlative engineering and a strong desire to push the limits of technology. These aspirations are enormously appealing to younger generations."

“The brand’s prestige, the excellence of its watches as well as Rolex’s passionate and long-standing commitment to motor sports gives it true credibility. This partnership is something that many people interested in Formula One will have been waiting for and should rightly be excited about. Rolex has incredible sporting heritage and therefore Formula One is the right place for Rolex to be,” added Formula One CEO Bernie Ecclestone.

In its capacity as Formula 1 Official Timekeeper and Official Timepiece, Rolex will give the time in different locations during each Grand Prix. The Rolex logo will also be positioned around the circuit and at several corners during Formula 1 races.

“In some respects, through its strong symbolic value and its global reach, our partnership with Formula One mirrors our recent support for initiatives such as James Cameron’s Deepsea Challenge expedition to the deepest reaches of the ocean in March 2012," Marini added. "A feat that is both human and technological, and has worldwide resonance”.