Rolex renews as Australian Grand Prix title sponsor

Rolex continues as title sponsor for the Australian Grand Prix, it was announced Monday. This will be the luxury Swiss watchmaker's third straight year as title sponsor of the season-opening round of the 2015 Formula One calendar.

"The opening round in Australia is always highly anticipated by sporting fans worldwide. It's a truly world class event which is not only a favorite of drivers and teams, but fans too," Arnaud Boetsch, Rolex SA Communication and Image Director, said, via Australian site Speedcafe.

"The Formula 1 Rolex Australian Grand Prix is a crowning moment in Rolex's support for Formula One and sets the scene for the rest of the season."

Rolex, of course, is also the official timepiece of F1.