HOW ASTON MARTIN WILL PAVE THE WAY FOR A NEW TYPE OF FORMULA 1 WORKS TEAM
Aston Martin will return to Formula 1 in 2021 after striking a deal to make Racing Point its official “works team”, thanks to new investment in the road-car manufacturer led by Lawrence Stroll.
The £182 million investment inAston Martin Lagonda comes with a legally binding agreement to rebrand Racing Point from 2021 on a 10-year deal.An initial five-year sponsorship deal equal toAston’s current F1 expenditure – it is presently Red Bull’s title sponsor – is included in the arrangement.
Stroll, owner of the Racing Point team since purchasing the assets of Force India when it fell into administration, will join theAston board and become executive chairman.
Though the declaration that Racing Point will become the “works team” initially means a rebranding to use theAston name and financial sponsorship – similar to Sauber being renamedAlfa Romeo – the common ownership between Racing Point
