Aston Martin Sells F1 Team Shares and Commits to F1 Sponsorship

May 5, 2024; Miami Gardens, Florida, USA; Aston Martin executive chairman Lawrence Stroll walks into the F1 Village before the F1 Miami Grand Prix at Miami International Autodrome. Mandatory Credit: Peter Casey-Imagn Images
May 5, 2024; Miami Gardens, Florida, USA; Aston Martin executive chairman Lawrence Stroll walks into the F1 Village before the F1 Miami Grand Prix at Miami International Autodrome. Mandatory Credit: Peter Casey-Imagn Images / Peter Casey-Imagn Images

Aston Martin has sold its shares of Aston Martin Racing to inject cash into the car business, while team owner Lawrence Stroll invested more money into the team.

The Aston Martin car company was forced to cut 170 jobs last month, after accumulating debts of over $1 billion.

"Benefiting from the growing success and popularity of Formula 1, alongside this long-term sponsorship agreement, the group now proposes to sell its existing shares and the shares issuable on exercise of its secondary warrants, with a view to realising a premium to the circa £74million combined book value of these investments," Aston Martin Lagonda said in a statement.

The move does not affect the naming of the Formula 1 team since Aston Martin has sponsored the team for several years.

In response to the sale of Aston Martin's stake in the team, Stroll said that the sale will provide an injection of cash into the team and allow for the Aston Martin partnership to continue.

"These moves demonstrate that Aston Martin's place on the Formula 1 grid is as secure as ever. AML recently recommitted 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 1 for decades to come," Stroll said in a statement.

After purchasing a stake in the team over five years ago, Stroll has also decided to inject another wave of investment, increasing his stake in Aston Martin to 33% through his Yew Tree Consortium.

"I am pleased to clearly demonstrate my unwavering support and commitment to Aston Martin,” he said. "Since 2020, my Yew Tree Consortium partners and I have invested around £600m into the company."

“This proposed investment further underscores my conviction in this extraordinary brand, and commitment to ensuring Aston Martin has the strongest possible platform for creating long-term value while reducing equity dilution via this premium subscription, which should greatly reassure shareholders, as I again increase my long-term ownership in the company.”

Since he took over, Stroll has certainly put his money where his mouth is, creating a new facility and wind tunnel for the team to push into the top tier of F1 constructors.

Additionally, Aston recently acquired legendary designer Adrian Newey for millions of dollars to deliver a title challenge amid the upcoming 2026 engine regulations.

The Silverstone-based team has set lofty goals for itself in the not-too-distant future, with all the money invested and acquisitions, making the team a powerful marketing tool for the Aston Martin car company.


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Nelson Espinal
NELSON ESPINAL

Nelson Espinal lives and breathes sports. Avidly following of everything ranging from motorsports to Mixed Martial Arts to tennis, he is connected with most of the sports world at all times. His dream of writing about sports started at 16 years of age, writing for a Lakers fans blog, and his passions for sports writing has grown since. He has his Bachelor's degree in Political Science, and a minor in writing literature from the University of California, San Diego.