Aston Martin set to be in F1 for decades yet!

19:29, 31 Mar

Updated: 20:58, 31 Mar

byNorberto Mujica

Aston Martin has announced that Lawrence Stroll has increased his stake in Aston Martin Lagonda. The Executive Chairman has thus secured the presence of the British racing green brand's name in Formula 1 for decades to come.

Lawrence Stroll increases stake in Aston Martin Lagonda

"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," the Aston Martin press release reads.

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"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," concludes the press release.

Stroll himself said: "These steps show that Aston Martin's place on the Formula 1 grid is as secure as ever. AML recently recommitted to the long-term sponsorship and licensing agreement with AMF1, confirming that the legendary Aston Martin brand and the British green racing colours will be involved in Formula 1 for decades to come."