Real Champagne Returns to F1 Podium After Billion-Dollar Deal
Oct.3 - Real champagne will soon return to the Formula 1 podium.
Spraying genuine French champagne on the podium is a long-held tradition in the sport, but for the past several years, drivers have actually been spraying Italian sparkling wine courtesy of sponsor Ferrari Trentino.
But that's about to change. Liberty Media, F1's commercial owner, has just inked a ten-year sponsorship deal with LVMH which The Sun newspaper estimates is worth $1 billion over the next decade.
LVMH, a French multinational, stands for Louis Vuitton Moet Hennessy - the parent company of several brands including iconic F1 champagne Moet + Chandon.
TAG Heuer, also in the LVMH stable, is another well-known brand to Formula 1.
"The opportunity to scale our commercial arrangements is emblematic of the vision we have for Formula 1 as the business continues to grow its platform," said Liberty Media CEO Greg Maffei.
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