Rolex has signed a global partnership with Formula 1 to become the event’s official timekeeper and official timepiece from 2013.

Rolex insisted that the new deal reinforced its ‘commitment to motor racing and its support of global sport at the very highest level’, with the deal set to see Rolex branding appear at a number of events during the season ahead.

The Rolex logo will be positioned around F1 circuits and the company plans to develop its presence in the sport over the coming years.

“Without question Rolex is the partner of choice for a world class sporting series like formula one,” said F1 chief executive Bernie Ecclestone.

Swiss brand Hublot has been Formula One’s official watchmaker, with a black-eyed Ecclestone famously appearing in an advert for the brand after he had his watch stolen in a mugging in London in 2010.