Aston Martin Lagonda is to sell its stake in the F1 team in order to raise the team’s capacity and also increase Lawrence Stroll’s shareholding.
Reports of Aston Martin selling stake in the F1 team spiraled in the news for the last week or so. The move has now been confirmed where the company is to sell its stake in order to strengthen the outfit’s presence in the sport for ‘decades to come’.
The move will see Stroll increase its shareholding of Aston Martin Lagonda to 33% from current 27.67% and strengthening the balance sheet by over 125 million pounds. The Canadian has roped in Raine Group (investment bank) to find a buyer.
The bank will work with Aston Martin’s commercial head Jeff Slack to find a buyer and finalise a deal. The move comes at a time when Aston Martin is gearing up for a works status with Honda from F1 2026 onward, having already secured Adrian Newey.
“These moves demonstrate that Aston Martin’s place on the Formula One grid is as secure as ever,” said Stroll. “AML recently re-committed to its long-term sponsorship and licensing agreement with AMF1, confirming that the legendary Aston Martin brand and its British racing green colours will compete in Formula One for decades to come.”
The statement from Aston Martin followed –
“Today’s news underscores our Executive Chairman Lawrence Stroll’s long-term and unwavering commitment to both Aston Martin and the current Formula One Team. A long-term contract is now in place to ensure the Aston Martin name remains at the pinnacle of motorsport for decades to come.
“The proposed transactions, which will see Aston Martin Lagonda (AML) sell its stake in the Aston Martin Aramco Formula One Team (AMF1), will result in Mr Stroll increasing his shareholding in AML to 33% while strengthening the company’s balance sheet by over £125m.
“Mr Stroll has commissioned the investment bank Raine Group to help find a buyer for AML’s stake in the Formula One team. Raine will work closely with AMF1’s commercial chief Jeff Slack to secure a strategic investor who can add long-term value to the team and the brand.”
Here’s Fernando Alonso, Lance Stroll on China
