Last Updated: 31/01/20 11:24am
Racing Point will be renamed as Aston Martin from the 2021 Formula 1 season.
Following weeks of belief that Lawrence Stroll, Racing Point’s billionaire owner, was assertive to buy into the British carmaker, it was accepted on Friday a bunch led by the Canadian would pay £182m for an antecedent 16.7 per cent pale in Aston Martin.
As a result, Aston Martin will become the new name of Stroll’s Silverstone-based F1 aggregation from the division afterwards next, giving the aggregation works status.
The antecedent acceding is for a 10-year term, with added advocacy arrange attached.
“Mid-engined cars are a amount allotment of Aston Martin Lagonda’s future. As allotment of this, an added access to F1 is advised important,” apprehend a statement.
Aston Martin will abide as Red Bull’s appellation sponsor in the accessible 2020 season, but it was additionally accepted that the affiliation will end at the end of this year.
Lawrence Stroll (R) with his son Lance, who drives for Racing Point
Stroll took ascendancy of the above Force India aggregation in August 2018 afterwards it went into administration, with the accouterments finishing seventh in aftermost year’s Constructors’ Championship.
Stroll, who will become Aston Martin’s controlling chairman, said: “I am actual admiring that I, and my ally in the Consortium, accept accomplished acceding with the Board and above shareholders to accomplish this cogent abiding investment.
“Aston Martin Lagonda makes some of the world’s best iconic affluence cars, advised and congenital by actual accomplished people. Our advance appear today underpins the Company’s banking aegis and ensures it will be operating from a position of banking strength.”
Racing Point, who brace Lance Stroll – Lawrence’s son – with Sergio Perez in their agency already afresh this season, barrage their 2020 car in Austria on February 17.
Although Aston Martin accept captivated appellation affiliation rights at Red Bull in contempo seasons, the affluence car cast accept not had a works aggregation in F1 for 60 years.
Aston Martin competed beneath their own aggregation for aloof two seasons in 1959-60, recording a best chase accomplishment of sixth.
The aboriginal accepted car barrage for 2020 is Ferrari’s on February 11, afore pre-season testing starts on February 19. The season-opening chase in Australia is on March 15, with all 22 contest alive on Sky Sports F1
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