F1 agrees stunning $1billion deal and big change to future podiums

Sign up to our free sport newsletter for all the latest news on everything from cycling to boxing Sign up to our free sport email for all the latest news Sign up to our free sport email for all the latest news SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Formula 1 has agreed a staggering deal with luxury goods company LVMH which will invest around $1billion into the sport over the next 10 years. LVMH owns several well-known luxury brands, including Moet & Chandon champagne which is now set to replace Italian sparkline wine Ferrari Trento on the top-three podium when the agreement starts next year. F1 CEO Stefano Domenicali said: “Our sport is founded on the relentless pursuit of excellence, a value that also lies at the heart of LVMH, so I am delighted to announce this historic partnership will begin in 2025. “This is a landmark partnership for both companies, and I would like to thank Bernard and Frederic Arnault for their vision and commitment to bring this to life.” LVMH Group CEO Bernard Arnault added: “The people, the quest for excellence and the passion for innovation are at the heart of the activity of our Maisons and Formula 1.