Aston Martin has announced that a minority stake sale to American billionaire Woody Johnson has been completed ahead of the Formula 1 Dutch Grand Prix.
The Silverstone-based team has competed in the sport in its current Aston Martin avatar since the 2021 season.
Canadian business mogul Lawrence Stroll owns the majority stake in the team, ascertained at about 33%, with other investors holding various minority stakes.
Now, the British marque has revealed that Johnson, the heir to the $20.5 billion Johnson & Johnson empire, has acquired minority ownership of the outfit.
While the exact metrics of the deal have not been divulged, it is assumed that Johnson’s stake in the team would be around the 15% mark.
Johnson has prior experience in the domain of sports franchises and currently also owns the NFL team, the New York Jets.
As per Aston Martin, while Johnson will join the Board of Directors as its Vice Chairman, he will not partake in the day-to-day operations of the racing team.
Aston Martin looks to broaden its horizons into the US market
The Silverstone-based team has called Johnson’s acquisition a strategic investment “at a time of unprecedented growth” for the sport, especially in the US market.
Johnson’s involvement, therefore, will hopefully open up collaborative opportunities for Aston Martin in the world of US-sports, marketing and sponsorships.
What’s more, Johnson has also served as a US ambassador to the UK under Donald Trump’s administration, and is no stranger to the sports culture across the pond.
“During my time as U.S. Ambassador to the United Kingdom, I have developed a deep appreciation for Aston Martin’s rich history, as well as Lawrence Stroll’s strategic vision and entrepreneurial spirit,” he said in an Aston Martin press release.
“I am excited to partner with him and contribute to the continued development of the Team, with the ambition of building an organisation capable of competing at the very highest level of the sport. We also share a commitment to growing the fanbase in the United States and introducing even more fans to the excitement of Formula One.”
Stroll, who will continue to lead Aston Martin in F1, is also excited about what the future holds for the team.
“I am extremely happy to welcome Woody to the Aston Martin family,” Stroll said.
“His experience, passion and investment further strengthen our position as we enter the next phase of our competitive journey.
“His deep appreciation for our brand, combined with his commitment to innovation and commercial opportunity, makes him an ideal partner as we look to the future.”
After its Hungarian GP upgrade package delivered promising results, Aston Martin will hope to build on its rising form at the Dutch GP this weekend.
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