Racing Point and Aston Martin set to work together in 2021
F1 News
Racing Point will become Aston Martin's Formula 1 team at the start of the 2021 season thanks to a deal that has been done with the company and Lawrence Stroll. It is believed that Stroll has bought a stake in the British car company and the news comes after it was announced earlier that Red Bull and Aston Martin would part ways at the end of 2020.
Motorsport.com has reported that Stroll has bought a 16.7 percent stake in Aston Martin for £182 million which will see the two work together from 2021.
“On completion of the £500m of fundraising I look forward to working with the Board and management team in Aston Martin Lagonda to review and improve each aspect of the company's operations and marketing; to continue to invest in the development of new models and technologies and to start to rebalance production to prioritize demand oversupply," Stroll said.
“I, and my partners, firmly believe that Aston Martin is one of the great global luxury car brands. 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."
Aston Martin are really struggling financially and will hope that the boost from this news will help them out. They are reported to be in need of £500 million and Strolls investment will only go so far in helping the company out.