Champagne is set to return to Formula One podium celebrations with stars set to fizz in delight once more. F1 CEO Stefano Domenicali has struck a reportedly lucrative £750million deal with LMHV Group - LMHV Moet Hennessy Louis Vuitton – a French corporation specialising in luxury goods.

Since the 2021 season, the likes of Max Verstappen, Lewis Hamilton and Lando Norris have had to settle for spraying wine products after their Grand Prix triumphs. That is because F1 has been associated with the Italian sparkling wine maker Ferrari Trentino.

Their products have been on display at each race for the past three years. Drivers are handed a bottle after winning Grands Prix.

Spraying champagne was previously a long-held tradition after races, with the winner soaked in the beverage of choice. And it is seemingly set to return from the start of next season as part of a major agreement.

Champagne producers Moet & Chandon have been a huge part of the multi-national corporation since its formation in 1987. It is thought that champagne will once again be part of the post-race celebrations.

The Daily Mail claims that Domenicali has struck an eye-watering £750m deal with LMHV after long-term discussions. F1 has now confirmed the agreement and said it will last for 10 years. It is reported that discussions over the deal lasted for over a year, with Domenicali assisted by the Liberty Media chief executive Greg Maffei.

A joint statement by F1 and LMVH said: “At the crossroads of the LVMH Group’s values of creativity and excellence with Formula One’s innovation and high-performance, the partnership will bring together the best of these two worlds and provide unparalleled experiences combining thrilling sport and elegant art-de-vivre, wheel-to-wheel racing and time-tested craftmanship, for enthusiasts, fans and clients.

“From the birth of Formula One, in 1950 through to the modern day, LVMH and its Maisons have been a part of the sport. With this new partnership both Formula 1 and LVMH are excited to write new chapters of this incredible story, with each Maison involved bringing its unique expertise, heritage, and energy to heighten the collaboration.”

The only exception for the alcohol-themed celebrations is when races take place in the Middle East, where the product is banned. Rose Water is used as a replacement on the podium and it is understood that this rule will continue to remain in place.