New co-owner at Aston Martin F1: team value over £1bn!
F1 News
- GPblog.com
Formula 1 is in Las Vegas, the city of big money. For Aston Martin's F1 team, it is already box office. The British team announced they have a new (co-)owner: private equity firm Arctos Partners. No statement has been made about the exact amount this company is investing. But according to the Financial Times, Aston Martin F1 now represents a value of £1 billion.
Team owner Lawrence Stroll said: "I am delighted to welcome Arctos Partners as a new partner and minority shareholder in the Aston Martin Formula 1 Team. As investors in several leading sports franchises, Arctos brings deep industry knowledge, and I am thrilled that Aston Martin will be joining such a prestigious portfolio. The team has enjoyed tremendous success this season with eight podium finishes and our biggest points haul as a team, but our collective ambition is greater.
Stroll sees 'perfect moment' for collaboration
"Arctos see the potential and value of this project as we continue to build a world-class Formula 1 team. They share our vision for our ultra-luxury brand, and they are extremely passionate about the sport and its prospects.We are investing in infrastructure, people and processes, and this is the perfect time to add strength in depth with the operational expertise and strategic experience of Arctos. Together, we will continue to drive this team forward and build an even brighter and successful future," Stroll said.
Arctos has acquired a minority stake in Aston Martin F1. Earlier, the company tried to do the same in football club Paris Saint Germain, but those talks ultimately came to nothing.