Official: Aston Martin will field two cars in 2021
The Racing Point team will become Aston Martin from the 2021 season. Indeed, billionaire Lawrence Stroll, the current owner of the Silverstone team, has just made a massive investment in the English brand. Aston Martin will commit to at least 10 years in Formula 1 with an official and factory team: Aston Martin F1.
Rumors had been growing for some time, but it is now official: Lawrence Stroll, billionaire and father of F1 driver Lance Stroll, has just acquired a stake in the Aston Martin brand. Facing financial difficulties due to Brexit and a slowdown in growth in Europe, the British manufacturer was seeking new investors to revive the brand. Following a meeting that took place this Thursday, the investor consortium Yew Overseas Limited, led by Lawrence Stroll, now owns 16.7% of Aston Martin Lagonda Limited.
The acquisition of these 16.7% of shares in the Aston Martin group amounts to nearly 193 million euros, to which 380 million in cash is added. In total, Aston Martin will benefit from a capital raising of more than 500 million euros. The aim for Lawrence Stroll is to ultimately hold 20% of the group’s shares and become the new executive chairman of Aston Martin Lagonda.
The main sector of activity will remain the production of series cars, to which a 10-year commitment in Formula 1 will be added. The arrival of the Canadian in the capital will not impact the partnership between Red Bull and Aston Martin, which will be maintained for the 2020 season. In 2021, Racing Point will officially take the name of Aston Martin F1.
The last appearance of an Aston Martin chassis and engine in F1 dates back to 1960, driven by a certain Maurice Trintignant.
« I am delighted that with my partners and the consortium we have reached an agreement with the board of directors and shareholders to proceed with this significant long-term investment. » announced Lawrence Stroll.
