The deal which sees Aston Martin return to Formula 1 as a works team has officially been completed, meaning from 2021 the Racing Point outfit, formerly known as Force India, will be rebranded the Aston Martin F1 Team.
It’s a deal which sees Lawrence Stroll and his fellow investors take a 25 per cent stake in the luxury British manufacturer and as part of the deal, the famous brand will return to the top tier of motorsport through Stroll’s ownership of the Racing Point team.
Speaking on Wednesday following the conclusion of the agreement, Stroll said he is confident they will do the name proud as Aston Martin belongs in F1.
“A brand with the pedigree and history of Aston Martin needs to be competing at the highest level of motorsport,” said the Canadian billionaire, father of driver Lance Stroll.
“I think it’s the most exciting thing that’s happened in recent memory in Formula 1 and it’s incredibly exciting for all stakeholders in the sport, especially the fans.
“I can’t think of a better name for a Formula 1 team. Our investment strategy places Formula 1 as a central pillar of the global marketing strategy, and it makes perfect sense to rebrand Racing Point for this purpose.”
He added: “The group of men and women at Silverstone are true racers and their determination and spirit is one of the main reasons I invested in the Formula 1 team. After 30 years, they deserve this opportunity to represent this legendary brand.
“We are continuing to invest in the team to give everybody the resources required and we will see the benefit of those efforts this year as Racing Point.
“With the Aston name comes more pressure and expectation. We will need to be competitive from the outset. But I have no doubt the team at Silverstone will rise to the challenge and do the Aston Martin name proud.”
Stroll described the deal as one of the ‘proudest moments’ of his career and is determined to turn Aston Martin’s fortunes around after several years of financial difficulty.
“The process of investing in this wonderful car brand has required all of my attention and energy for a number of months. There were certainly some sleepless nights. At the same time, it has been one of the most exciting deals in which I’ve ever been involved.
“Cars are my passion, a huge part of my life, and Aston Martin has always had a special place in my heart. To stand here today and announce that the agreement is finalised is a huge privilege and one of the proudest moments of my career.
“With all the paperwork completed, I can focus my attention on implementing the strategy to make this fantastic brand even more successful in the years ahead.”