Aston Martin, which has been struggling in recent months, has found a breath of fresh air with the arrival of Lawrence Stroll, who bought a little over 16% of the English marque with an initial investment of £182 million.
Aston Martin could have become partly Chinese with the rise in capital of Geely (which already owns Lotus and Volvo), but it is finally the Canadian billionaire Lawrence Stroll who made it as an investor.
For the owner of the Formula 1 Racing Point team, the investment amounts to about £182 million for the acquisition of 16.7% of shares in Aston Martin. The deal also includes the injection of £318 million into Aston Martin directly.
This is an important and welcome investment for the British car maker.
The arrival of the billionaire also has consequences in competition, as the Racing Point team will officially become Aston Martin F1 from the 2021 season, for a period of ten years.
“Once the £500 million investment is complete, I look forward to working with the board and management of Aston Martin Lagonda to review and improve every aspect of the company’s operations and marketing, to continue to invest in the development of new models and technologies, and to begin to rebalance production to focus on demand over supply,” said Lawrence Stroll, whose personal wealth is estimated at over €2 billion.
In a statement issued by Red Bull following the Stroll announcement, the team confirmed its split from Aston Martin at the end of 2020, but said both parties remained committed to the delivery of the jointly-designed Valkyrie hypercar later this year.
Of course, the news that Aston Martin has a bigger presence in Formula 1 is a good thing, and that maybe this takeover has ensured that Stroll is unlikely to be part of any works Mercedes team purchase as was speculated by many including TJ13.
Fans will no doubt lament the loss of the famed pink livery started by Racing Point (formerly Force India) main sponsor BWT.
Famed graphic and livery designer, Sean Bull, had relatively recently published some interesting Aston Martin liveries that might hint at what we’ll see racing this season.
Manufacturer pullout? – McLaren poised to become Mercedes works team?
Following on from some breaking news today published by Racefans and Autocar, Mercedes are indeed set for a crunch meeting to decide their future in Formula 1 – The date is set for the 12th February.
Over the past few months rumours persist that Mercedes are looking to sell their team, and again this has come up as a real likelihood after this 2020 season has finished.
TJ13 has reported this story several times, starting with the FIA reforms coming for 2021. Perversely, the budget cap for 2021 onwards has….. READ MORE ON THIS STORY