Confirming rumors from December 2019, Racing Point F1 team owner Lawrence Stroll has purchased a 16.7-percent stake in Aston Martin for £182 million (around $239 million), the automaker announced in a release today. As a part of the deal, Stroll’s F1 team will be renamed the Aston Martin Works F1 team from the 2021 season onward.
The move comes following Aston Martin’s recent attempts to secure funding to help produce its highly anticipated DBX crossover. According to the company, it plans to raise a further £318 million ($417 million) in the near future, which could push Stroll’s stake up to 20 percent.
The deal also means Aston Martin will end its title sponsorship deal with Red Bull at the end of the 2020 season. According to WTF1, however, the two entities will continue to work on the Valkyrie hypercar together. Seeing the Aston Martin name on Racing Point’s cars makes a bit of sense—just like the company’s road cars, the F1 cars are powered by Mercedes engines.
The decision means this is the first time Aston Martin will return as a proper manufacturer since the 1960 season. Perhaps the only downside is losing that cool BWT pink livery from the grid. Let’s hope we get to see some Aston Martin Racing green action in its place.
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