Lance Stroll’s father Lawrence Stroll made a $239M (USD) investment in Aston Martin for a 16.7% stake in the struggling car company. Part of the deal is a 10-year agreement to become the works team for Racing Point F1 starting in 2021.
What The Deal Means For F1
Aston Martin is currently a sponsor for Red Bull F1 as well as a technical partner on the development of the Aston Martin Valkyrie hypercar. The sponsorship deal will end following the 2020 season and will mercifully spare us from having to explain why both Aston Martin and Honda branding were on the car. The two sides will continue their relationship on the road car side until the completion of the Valkyrie.
For Racing Point they will be become the works Aston Martin team for 10-years according to the deal. A 5-year sponsorship deal is also included in that deal. Meaning Aston Martin is here for at least 10 years with Aston Martin sponsored cars for at least 5 years. Not a bad deal for a team that went into administration just 18 months ago as former team owner Vijay Mallya attempted to avoid prison.
For Lance Stroll and Sergio Perez, it means they will soon drive for a works team. Will their competitiveness increase? That depends on how much money Aston Martin and Stroll are willing to throw at chasing the Constructors Title. For now, it’s a step up certainly.
More Details From The Deal
- Lawrence Stroll leads investment consortium, becomes Aston Martin chairman – Tommy Hilfiger, Ralph Lauren, Michael Kors, Aston Martin. Lance Stroll’s hands have been on a number of brands.
- CEO Andy Palmer stays on – He doesn’t always say the best things.
- Job and cost cutbacks to follow – that’s unfortunate in all honesty.
- Aston business plan revised- translation: they’ll be making a business plan instead of throwing darts at the wall.
- Valkyrie will be launched this year- will it? We only saw it in March of 2017. Three years later it’s still being designed.
- Mid-engined Valhalla will follow- if they don’t get the guys from Mad Max for the launch of this we riot.
- Mid-engined strategy to continue, launching 2022- thank god Corvette mainstreamed this
- Lagonda launched delayed until at least 2025- question, if Aston Martin is a luxury brand why do they need to launch a luxury brand?
- Electric RapidE project suspended- so no Formula E?
- Stroll’s Racing Point F1 team to be rebranded Aston Martin from 2021- actually good.
Just wait until Lawrence Stoll buys Mercedes-Benz AMG F1.