Aston Martin has insisted it has an “unwavering and long-term commitment” to Formula 1 amid news that the company intends to sell its minority stake in the team.
The proposed deal will see Aston Martin Lagonda sell the £74 million investment it holds in the team that has competed in F1 with the British marque’s name since 2021.
Aston Martin Executive Chairman Lawrence Stroll will thus increase his shareholding in AML up to 33 per cent to improve the group’s liquidity to the tune of over £125 million.
Stroll has enlisted the guidance of investment bank Raine Group to help identify a suitable investor that is assured to “add long-term value to the team and the brand”.
And although this will limit Aston Martin’s involvement in the side to a sponsorship basis, the Silverstone-based squad will continue to sport the brand’s iconic handle.
“These moves demonstrate that Aston Martin’s place on the Formula One grid is as secure as ever,” Stroll penned in a statement.
“AML recently re-committed to its long-term sponsorship and licensing agreement with AMF1, confirming that the legendary Aston Martin brand and its British Racing Green will compete in Formula One for decades to come.”
READ MORE – Fernando Alonso urges Adrian Newey to be given time at Aston Martin as F1 ‘is not football’
Discussion about this post