Aston Martin x Racing Point : Everything you need to know!
What does it mean for RedBull & Racing point now that a consortium led by Lawrence Stroll is the major shareholder of the British Car Company?
Let's start off with the News! Aston Martin had been struggling for quite sometime now financially and was looking for investors to take over part of the company's shares. Until recently, both Geely [Chinese Automotive Giant] and the consortium led by Lawrence Stroll were the only two interested parties. Today, however Aston Martin Lagonda has filed an issue of equity which means the deal has gone through and ofcourse, with Lawrence Stroll.
But what is really part of the deal?
1. A total of half a billion pounds will be the investment from the consortium in a two part infusion of cash. Giving them an acquisition of 16.7% of the company's shares..
2. RedBull & Aston Martin's partnership will continue in the 2020 Formula 1 Season. However, the joint venture with RedBull Advance Technologies will remain until the release of the Valkyrie. This makes a lot of sense owing to the fact that Adrian Newey of the RedBull F1 team played a major role in designing the Aston Martin Valkyrie.
3. Both Aston Martin as well as the consortium have agreed by signing a legally binding term sheet that Racing Point F1 will retract it's name for the 2021 Season and will be established as Aston Martin F1 [Works Team].
4. Aston Martin Valhalla, the mid-engined hypercar will be developed under the F1 team's facilities.
Racing Point F1 finished a modest 7th in the Constructors' Standings of the 2019 Formula 1 Season. The team announced a contract extension with it's driver, Sergio Perez till the end of the 2022 season. Lance Stroll, son of Lawrence Stroll also drives for Racing Point and we don't see him leaving the team anytime soon. This means both drivers will race for Aston Martin F1 in the 2021 Season.
What do y'all think about this whole scenario? Do you think the team will improve as Aston Martin also owing to the F1 regulations changes in 2021? Tell us in the comments!