F1 boss 'in early talks' to SELL 25 percent of team

It has been reported that Aston Martin team owner Lawrence Stroll is looking to sell another minority stake in the team.

The Canadian businessman bought the team in 2018 when they were known as Force India, taking the team out of administration.

READ MORE: Hamilton dealt major Newey blow as shock COMPLICATION revealed

In 2019, the team was rebranded to Racing Point, with his son Lance being brought in to race for the team, before in 2020, Stroll Sr led a consortium to invest an estimated £182 million into Aston Martin (the luxury car brand separate from the F1 team) in exchange for a 16.7 percent stake in the company.

Another rebrand saw them named Aston Martin from 2021 and last season, they saw great success on the track with Fernando Alonso achieving eight podiums during the year as the Silverstone-based squad finished fifth in the constructors’ standings.

Stroll in discussions to sell stake in Aston Martin

But now, according to Bloomberg UK, Stroll is looking to cash in on the hype around the sport and sell another minority stake in the team.

This would be the latest in a string of deals and rising valuations in F1, which has seen incredible growth in popularity in recent years, particularly in the US with the success of the Netflix series Drive to Survive.

This contrasts the current situation at the main Aston Martin company, as their stock has declined by about a third since the start of the year.

Stroll has had to inject funds for the company through investors and a source close to the matter who spoke with Bloomberg UK, who wanted to remain anonymous, says that Stroll is now looking to sell as much as 25 percent of the racing business.

READ MORE: F1 team set to axe BOTH star drivers

A spokesman said in a statement: “From time to time and more recently following the Arctos Partners investment, the team is contacted by interested parties.”

Back in November, Aston Martin agreed a deal to sell a minority stake to US private equity firm Arctos Partners in a deal believed to be worth £1 billion ($1.3 billion).

Two-time champion Alonso recently committed his future to the team with a long-term contract that will take him beyond the 2026 season; the year that new regulations come into the sport and Honda becomes Aston Martin’s engine supplier.

Stroll Sr’s son Lance is currently one of 12 drivers who are out of contract at the end of the 2024 season.

READ MORE: Red Bull announce strong statement over Newey departure claims

Related

Latest F1 News

F1 team announce NEW signing with official statement

• November 17, 2024 11:57

Latest F1 News

F1 team announce MAJOR signing for 2025

• November 14, 2024 13:01