The potential agreement could be worth a reported US$150 million ($195.34 million) annually, and would be a blow to Rolex, the top Swiss watch brand that has been the timekeeping sponsor of F1 since 2013.
LVMH is in late-stage talks to become a major sponsor of Formula One, in a deal that would see the French luxury conglomerate promote its major brands on the race track.
The Paris-based company is nearing an agreement where watchmaker Tag Heuer as well as other brands, which could include Moet & Chandon Champagne and possibly its hotel chains, become sponsors of F1 with brand logos and products displayed prominently to race viewers, according to people familiar with the matter.
