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Aston Martin sells F1 team amid share price decline
Aston Martin is set to sell its minority stake in the Aston Martin Formula 1 team as part of a strategic effort to improve its financial standing. The iconic British automaker has agreed to transfer its £74 million investment to the team's current ownership group, led by billionaire Lawrence Stroll. As part of the agreement, Stroll will also inject an additional £52.5 million into the team, further solidifying his control over the Silverstone-based outfit. Ownership Shift but No Change in Team Identity Despite the sale, Aston Martin will continue to have a presence in Formula 1. The team will retain the Aston Martin name under a long-term sponsorship and licensing deal. This means the...
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8mo ago from Formula1News.co.uk
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