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Aston Martin's 2021 F1 entry still on target – Stroll
Aston Martin's plans to enter Formula 1 in 2021 are still on track according to the companies incoming Executive Chair, Lawrence Stroll. Stroll, co-owner of the Racing Point outfit, has taken a 25 per cent stake in the British manufacturer, which has cost the Canadian billionaire and his investors £171 million ($210m), plus a further cash injection of £91m ($111m). It is however less than the £195m ($239m) he previously agreed to pay for a 16.7 per cent stake prior to the outbreak of the Covid-19 virus, which saw Aston Martin Lagonda's share price plummet and led to the deal being renegotiated. On Tuesday Aston Martin Lagonda confirmed completion of the new share sale and Stroll's...
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5y ago from MotorsportWeek.com
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