Tim Holmes Design Stroll investment completed
04/01/2020
B e Aston Martin has been in the last weeks and months There was a lot of negotiation behind the scenes to save the traditional British brand from bankruptcy. Now the new major investor Lawrence Stroll was finally able to announce the completion of the partial takeover of the car manufacturer.
According to this, Aston Martin raised a total of around 600 million euros in fresh capital. Almost half of this comes from the 'Yew Tree Consortium', which includes a number of investors under the leadership of Stroll.
Part of the deal was that the Canadian billionaire will serve as the executive board of directors. And that Aston Martin will have its own factory team in Formula 1 in the 2021 season in order to strengthen the brand's image and advertise the planned new mid-engine sports cars.
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Lawrence Stroll is merging his investments in Racing Point and Aston Martin.
Off Racing Point will be Aston Martin
Aston Martin will not build a completely new racing team. Instead, the Racing Point team, also owned by Lawrence Stroll, simply renames itself. It should be mentioned that the close technical cooperation with Mercedes will continue. The brand with the star continues to supply the engines.
With the reorganization of the Aston Martin works team, however, Aston's sponsorship commitment at Red Bull will end in 2021. According to team boss Christian Horner, the contract with the current one is running Title sponsor will simply end at the end of 2020. Red Bull also waived the existing exclusivity clause to pave the way for the new Aston partnership with Racing Point.
Lawrence Stroll hopes that he financiallyailing carmaker can navigate into calmer waters again: 'Now that all the paperwork has been completed, I can now devote all my attention to implementing a new strategy so that this fantastic brand will be even more successful in the next few years,' said the 60- Yearlings at the conclusion of his investment.
The new managing director sees the commitment as a works team as a win-win situation for both Aston Martin and Formula 1: 'A brand with the tradition and history of Aston Martin simply has to be involved in the highest motorsport category. For Formula 1 this is the most exciting story in the recent past. This is great for all parties involved in the sport, especially of course for the fans. '
Stefan Baldauf
The close technical partnership between the F1 racing team and Mercedes will be continued.
Technology transfer to street athletes
The F1 commitment is the central pillar of the company's new marketing strategy. Stroll announced that there would be a technology transfer between the F1 team and the street sports cars. 'The divisions will work closely together so that we can ensure that our road cars also share the DNA of our success on the racetrack.'
In this context, Stroll promises further investments in the racing team, which is based in Silverstone. The businessman from Montreal predicts the positive results of this investment on the track this season. 'I have no doubt that the team will grow with the challenge and live up to the name Aston Martin.'
At the moment, Racing Point is not yet able to demonstrate its improved form. The Corona crisis is causing a standstill in the premier class. 'As real racers we are of course a bit frustrated in the current situation. In the meantime, the team is supporting the 'Project Pitlane', which is supposed to accelerate the production of ventilators. But I have a long-term vision for Formula 1. In this long journey, that's just a temporary break, 'said Stroll.
