Aston Martin Owner Stroll Sells F1 Stake
Lawrence Stroll, the billionaire owner of Aston Martin, has sold his stake in Formula One to a group of investors for a reported $1 billion valuation. The sale marks the end of Stroll’s involvement in the sport, which he had been involved in since 2017.
Background of Stroll’s Involvement in F1
Stroll first became involved in Formula One in 2017 when he purchased a controlling stake in the Williams F1 team. He then went on to become the chairman of the team, and his son, Lance, was signed as a driver.
In 2018, Stroll made a further investment in the sport when he purchased a stake in the Force India team. He then merged the two teams, creating the Racing Point F1 team.
Stroll’s Sale of F1 Stake
Stroll has now sold his stake in Formula One to a consortium of investors, including John D. Idol, the former CEO of Michael Kors. The sale was reportedly for a $1 billion valuation.
The sale marks the end of Stroll’s involvement in the sport, and the Racing Point F1 team will now be rebranded as Aston Martin F1. The team will be led by Otmar Szafnauer, the current CEO of Racing Point.
Impact of Stroll’s Sale
Stroll’s sale of his stake in Formula One is likely to have a significant impact on the sport. The sale of the stake is expected to bring in a significant amount of money, which could be used to invest in the sport and help it to grow.
The sale also marks the end of Stroll’s involvement in the sport, and it is unclear what his next move will be. However, it is likely that he will continue to be involved in the automotive industry, as he is the owner of Aston Martin.
Future of F1
The sale of Stroll’s stake in Formula One is likely to have a positive impact on the sport. The influx of money from the sale could be used to invest in the sport and help it to grow.
The rebranding of the Racing Point F1 team as Aston Martin F1 is also likely to have a positive impact on the sport. The team will be led by Otmar Szafnauer, who has a proven track record of success in the sport.
The future of Formula One looks bright, and the sale of Stroll’s stake is likely to be a positive step forward for the sport. With the influx of money from the sale, and the rebranding of the Racing Point F1 team, the sport is likely to continue to grow and become even more popular in the years to come.