(Reuters)

Formula One’s showcase Monaco Grand Prix will have a title sponsor, TAG Heuer, for the first time in nearly 100 years as a result of the sport’s new partnership with French luxury giant LVMH.

The watch brand, which has replaced Rolex as Formula One’s official timekeeper, has been a partner of the Automobile Club de Monaco since 2011.

The Monaco Grand Prix has, since the start of the championship in 1950, had no title sponsor but this year will be officially branded the Formula One TAG Heuer Grand Prix de Monaco.

The first edition of the race in the Mediterranean principality was held in 1929, before the days of title sponsorship.

LVMH is starting a 10-year deal with Formula One while the Monaco Grand Prix’s current contract runs to 2031.