Aston Martin to sell its stake in F1 team

Aston Martin has confirmed its plans to sell its minority £74 million stake in its F1 team.

** Aston Martin F1 has since responded to the news via a statement of its own, which you can read here. 

However, it has asserted the move will have “no impact to the long-term sponsorship agreement” of the squad.

The announcement comes after chairman Lawrence Stroll revealed he is committing an extra £52.5m to the business.

The move is being carried out in an effort to increase the sportscar manufacturer's liquidity.

"I am pleased to clearly demonstrate my unwavering support and commitment to Aston Martin,” Stroll said.

“Since 2020, my Yew Tree Consortium partners and I have invested around £600m into the company. 

“This proposed investment further underscores my conviction in this extraordinary brand, and commitment to ensuring Aston Martin has the strongest possible platform for creating long-term value while reducing equity dilution via this premium subscription, which should greatly reassure shareholders, as I again increase my long-term ownership in the company.”

RacingNews365 reported last year that Aston Martin has committed its future in F1 to at least 2030.

With the company now selling its F1 stake, Stroll asserted the brand will continue to be represented on the F1 grid. 

"Today's proposed investment, priced at a premium to the market price, and the forthcoming proposed sale of the Aston Martin F1 team shares owned by Aston Martin at a premium to book value, is expected to generate significant additional liquidity for the Group, of over £125 million,” Stroll added.

“With a long-term sponsorship agreement cementing the existing relationship between Aston Martin and the Aston Martin F1 team, our brand will remain present and competing at the pinnacle of motorsport for many years to come.”

Aston Martin F1 has since responded to the news via a statement of its own which you can read here.