Racing Point owner Lawrence Stroll took a stake in the iconic British sports car brand last month that will lead to him becoming executive chairman, and part of the deal includes the current F1 team evolving into the works Aston Martin entry. "Red Bull Racing has agreed to release Aston Martin from its Formula One exclusivity clause which in turn has allowed it to generate the necessary investment required to re-finance and pursue alternative opportunities within the sport.Aston Martin poised for decision over £200m Stroll bidWilliams announces date for "digital-only" 2020 F1 car launch"We thank Aston Martin for their support over the past four years in which time we have achieved 12 wins, 50 podiums and six pole positions together. Formula 1 is an important part of the strategy and you have confirmed the Racing Point team will be known as Aston Martin F1 Team from 2021… ‍ “A brand with the pedigree and history of Aston Martin needs to be competing at the highest level of motorsport. "Stroll, who made his money through investing in fashion brands such as Tommy Hilfiger and Michael Kors, has been involved in F1 and motor racing for years and also owns Canada's Mont-Tremblant circuit in Quebec.Carmakers of all sizes are using alliances, partnerships and mergers as ways to share the cost and challenge of meeting new emissions regulations, electrifying model ranges and competing on new technologies such as autonomous driving.

Following a board meeting of Aston Martin on Thursday night, it was confirmed this morning that a consortium led by Stroll has bought a 16.7 percent stake in the company for £182 million.In filings that were lodged with the London Stock Exchange on Friday morning that detailed the investment, it was made clear that an ‘enhanced’ F1 involvement for Aston Martin was viewed as essential.The documents said that as part of this: “Aston Martin Lagonda has entered into a legally binding termsheet under which the Racing Point F1 team will become the Aston Martin F1works team with effect from the 2021 season.

I believe that this combination of capital and my experience of both the motor industry and building highly successful global brands will mean that, over time, we fulfil Aston Martin Lagonda's potential."

Racing Point is to become the Aston Martin Formula 1 team from the start of 2021 as part of a new investment deal between the British car manufacturer and Lawrence Stroll. Esto convertirá al actual equipo Racing Point, donde milita el mexicano Sergio Pérez, en Aston Martin para 2021.
Stroll brings strong and proven expertise in both automotive and luxury brands more widely which we believe will be of significant benefit to Aston Martin Lagonda.

"I look forward to working with the board and management team ... to continue to invest in the development of new models and technologies and to start to rebalance production to prioritise demand over supply," Stroll said.Stroll will join Aston Martin's board as executive chairman, replacing Penny Hughes, who will step down.The consortium, led by Stroll, is likely to include several other people such as JCB Chairman Anthony Bamford, entrepreneur Andre Desmarais, Michael de Picciotto, telecoms investor John McCaw and Hong Kong fashion sector investor Silas Chou, all of whom have worked with Stroll before. “I, and my partners, firmly believe that Aston Martin is one of the great global luxury car brands. "He added “We have also announced plans to leverage a new motorsport collaboration with Racing Point to enhance the execution of the plan. The sector has been hit by a decline in China and a slump in diesel sales in Europe, prompting several automakers to post disappointing results, but Aston has also suffered as a small player.Rivals such as Bentley and Rolls-Royce are part of bigger automotive groups, meaning they benefit from the larger cost and expertise sharing.But despite more stringent emissions rules being enforced over the next few years, Aston said plans to invest in electric vehicles will now be delayed beyond 2025 as part of cost-cutting attempts. The move comes hours … And given the performance of this year’s Racing Point (who become Aston Martin ahead of the start of the 2021 season) in comparison to Ferrari, the German might think he … in Daily F1 News and Comment . Racing Point will not turn into a “monster” Formula 1 team when it becomes the Aston Martin works operation in 2021, according to technical chief Andrew Green. Canadian billionaire Lawrence Stroll has agreed to buy up to 20% of Aston Martin and rename his Racing Point Formula One team after the 107-year-old company.The agreement, which was made on Friday, will see Racing Point become the Aston Martin F1 Works team from the 2021 season.A decline in sales of Aston Martin's luxury sports cars since it floated on the London Stock Exchange in October 2018 has put the company's shares and finances under sustained pressure, forcing it to seek help.Aston Martin shares surged by as much as 30% after the announcement of the agreement and were 25% higher at 9:20 a.m. GMT.Under the deal, Stroll will pay £182 million for a 16.7% stake, which could rise to 20% upon completion of the company's plan, to raise a total of £500m, including a rights issue from exiting shareholders.The brand, which is mainly owned by Italian and Kuwaiti private equity groups and is famed for being fictional secret agent James Bond's car of choice, has come late to the lucrative sports-utility vehicle (SUV) market and has struggled to keep up with rivals owned by major global carmakers.Aston Martin also held talks with Chinese carmaker Geely, which makes Volvos, but it wanted to instigate more fundamental change than the plan outlined on Friday, a source said.Aston Martin Chief Executive Andy Palmer said the consortium led by Stroll, whose son Lance drives for Racing Point's F1 team, will bring several benefits. "We've talked a lot in the past few years about wanting to be clearly rooted in luxury and obviously Mr Stroll knows an awful lot about luxury.

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