Aston Martin is poised to sell its shares in its own Formula 1 team. The English car brand hopes to sell its minority stake, worth 74 million pounds, to improve the brand’s liquidity. At the same time, team owner Lawrence Stroll plans to invest 52.5 million pounds into the company.
The Aston Martin team will not immediately change its name, even if the car brand sells its minority stake, as the sponsorship deal extended last year remains in effect. Should Stroll’s investment proceed, the Canadian businessman would acquire about a third of all shares.
Conviction
In the investment proposal, Stroll emphasizes his ongoing commitment to the British team. “Since 2020, my partners and I have invested approximately six hundred million pounds in the company,” the businessman explains. “The proposed investment further underscores my belief in the extraordinary brand and my commitment to ensuring that Aston Martin has a foundation to create long-term value.”
“I am reducing the dilution of shares with this subscription, something that should reassure shareholders. After all, I am once again increasing my long-term interest in the company,” the Canadian continues. Stroll then confirms that the Aston Martin brand name will remain in Formula 1 for the time being through the sponsorship deal.”
