Aston Martin has sold a minority stake in its F1 team to Robert Wood Johnson, the billionaire heir to the Johnson & Johnson empire, New York Jets owner and Crystal Palace shareholder.
Johnson, who is known as Woody, served as the United States Ambassador to the United Kingdom from 2017 to 2021 after being appointed by Donald Trump. He will join the Aston Martin board as vice chairman with immediate effect.
The American businessman, who acquired a 43 per cent stake in Premier League side Crystal Palace last year, will not take on any day-to-day management responsibilities at the Silverstone-based outfit. Lawrence Stroll remains executive chairman and controlling shareholder.
Stroll said: "I am extremely happy to welcome Woody to the Aston Martin family. His experience, passion and investment further strengthen our position as we enter the next phase of our competitive journey.
"His deep appreciation for our brand, combined with his commitment to innovation and commercial opportunity, makes him an ideal partner as we look to the future."
The investment is squarely aimed at accelerating Aston Martin's commercial growth in the United States, a market that has become central to Formula 1's expansion.
The sport now boasts three American races in Miami, Austin and Las Vegas, while the US fanbase has swelled to approximately 52 million, with viewership rising sharply following Apple TV's takeover of broadcast rights this season.
Johnson's portfolio of sports interests across the NFL and the Premier League is expected to open doors to new commercial partnerships and cross-sport opportunities.
His appointment comes at a difficult time on-track for Aston Martin, which sits 10th in the constructors' championship with just a single point from the opening 11 rounds.
The exact size of Johnson's stake and the financial terms of the deal have not been disclosed.
Johnson said: "During my time as U.S. Ambassador to the United Kingdom, I have developed a deep appreciation for Aston Martin's rich history, as well as Lawrence Stroll's strategic vision and entrepreneurial spirit.
"I am excited to partner with him and contribute to the continued development of the team, with the ambition of building an organisation capable of competing at the very highest level of the sport.
"We also share a commitment to growing the fanbase in the United States and introducing even more fans to the excitement of Formula 1."
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