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Racing Point to become Aston Martin in 2021
Racing Point will be known as the Aston Martin Formula 1 team from 2021 as Lawrence Stroll acquired a 16.7% stake in the British car manufacturer. Confirmation that Stroll's offer to invest into the struggling luxury car brand came on Friday morning via the London Stock Exchange following an Aston Martin board meeting on Thursday night. It is believed the 16.7% stake has been acquired by Stroll for £182 million. ‘Aston Martin Lagonda has entered into a legally binding termsheet under which the Racing Point F1 team will become the Aston Martin F1 works team with effect from the 2021 season,' a statement read. ‘This agreement is for a 10-year initial term and Aston Martin...
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4y ago from PlanetF1.com
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