Formula 1 has signed a major new commercial deal with Rolex which will see the luxury watchmaker become the sport’s official timekeeper as part of a long-term partnership. The agreement, which is believed to be worth around £15 million per annum, will also see Rolex design F1’s official timepiece with the Swiss brand’s logos to also be positioned around grand prix circuits and at several corners next season. The joint statement announcing the new partnership also made clear that Rolex’s presence in F1 is “due to develop over the coming seasons”. Ecclestone and long-time Rolex ambassador Jackie Stewart were on More…