Luxury Swiss watchmaker Rolex has returned as the title partner of motor racing’s Formula 1 (F1) Australian Grand Prix (GP).

The deal, which will see the race named the F1 Rolex Australia Grand Prix 2024, compliments Rolex’s role as F1’s global partner, official timekeeper, and official timepiece.

Rolex has previously been the event’s title partner between 2013 and 2020, and in 2023, this new partnership being the tenth year the two have been together.

Australian GP Corporation chief executive Travis Auld said: “We are thrilled to welcome Rolex back as title partner for 2024 and look forward to continuing to work together to create an exceptional event.”

“Rolex is synonymous with Formula 1 and are globally recognized as a leader in their field – they are a perfect match for the Australian Grand Prix.”

Rolex director of communication and image, Arnaud Boetsch, added: "Rolex has a huge affinity for Australia, enjoying strong sporting ties with the city of Melbourne and being the proud title sponsor of the Australian GP.

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"The brand forged its partnership with F1 a decade ago by becoming a global partner and the official timepiece of the racing series.”

The 2024 Australian GP will be the third race of the next F1 season, taking place at Albert Park from March 21 to 24.

Earlier this year Rolex extended its commercial relationship with the prestigious Goodwood motor racing venue in southern England.

Meanwhile, McLaren Racing, the motor racing arm of the British car manufacturer, has announced it will continue to use Mercedes-AMG engines from 2026 to 2030.

The pair's original deal began in 2021, after a previous partnership deal that ran from 1995 to 2014.

Head of Mercedes-Benz Motorsport Toto Wolff said: “It has been a cornerstone of our motorsport strategy to work with strong customer teams.

“This has many advantages: it gives a clear competitive benchmark, accelerates our technical learning, and strengthens the overall F1 business case for Mercedes-Benz. McLaren have been fierce and fair competitors since 2021, especially in the second half of this season.

“McLaren’s strong performances underline the importance of transparent and equal supply to all customer teams in the sport, if we wish to achieve the goal of 10 teams capable of fighting for podium finishes.”

Zak Brown, chief executive of McLaren Racing, added: “Mercedes-Benz have been a brilliant and reliable partner of the McLaren Formula 1 Team. The extension signifies the confidence that our shareholders and the wider team have in their powertrains and the direction we’re taking with them into the new era of regulations ahead.

“We have been successful together, both in the last three seasons and when they previously powered the team, so we look forward to the success to come as we continue our journey to fight consistently at the front of the grid.”