Paris – The shareholders of British Aston Martin agreed to return as a full team among the 2021 championship makers, according to what was announced Wednesday by “Racing Point” team, which will bear the company name next season.
“With the Aston name comes more pressure and expectation …”
Racing Point will become Aston Martin F1 in 2021
– Formula 1 (@ F1) April 1, 2020
British press reports on Wednesday indicated that this agreement comes within the framework of a complete plan to avoid the “collapse” of the company, which is famous for producing luxury sports cars, and dates back to about 107 years.
“The return of Aston Martin to Formula One is now certain (…) On Monday March 30, Aston Martin Lagonda shareholders agreed to raise a sum of 536 million pounds (607 million euros), including a new capital injection of 260 million,” the statement said. £ (€ 294 million) by UTRI Consortium, an investment group managed by (Canadian) Lawrence Stroll, “the current owner of the Racing Point team.
Lawrence is the father of the current driver of Lance Stroll.
“Within the framework of this investment, Mr. Stroll will become CEO of Aston Martin, and Aston Martin will establish its own Formula One team,” said the statement, based in Silverstone, currently Raising Point.
The team will bear the name “Aston Martin F1” for at least ten years.
Aston Martin put its return as a team to the first-class races in the context of “building the brand globally”, especially since Formula One sport “requires excellence in design and engineering, and innovation does not stop.” To lay the foundations for team success, automotive development, and brand building. ”
The move comes in light of the stalemate imposed by the newly created Corona virus on the world of sport, which has delayed the start of the 2020 season in the Formula One World Championship. The first eight major prizes scheduled for this season have met the cancellation or postponement.
“A brand with the reputation and history of Aston Martin needs to compete at the highest level in motorsport,” Lance Stroll said in an interview posted on his team’s website. I think (return) is the most exciting thing that Formula One has seen in recent memory (…) I cannot think of a better name for a team in Formula One. ”
“The global lighting that Formula One has received is unparalleled, and we will build on this proliferation in order to promote the Aston Martin brand in our main markets.”
Aston Martin sponsors until the end of 2020 the name of the Red Bull team, and had participated in the first category races during the years 1959 and 1960 with David Brown, but it achieved more success in the endurance racing championship.