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Formula 1

Stroll turns to bonds to fund Aston Martin's new F1 factory

Aston Martin's Lawrence Stroll is aiming to raise £250 million through a bond issue in order to pay for the team's new F1 factory.

Article
To news overview © Aston Martin

With Aston Martin starting construction work on their new factory in September, team owner Lawrence Stroll is aiming to fund the £250 million development through a bond issue.

Last month, the team confirmed that work on their new facility on Dadford Road at Silverstone had formally begun. The new development will see the team build a new wind tunnel and simulator, while their facilities will also add on two new buildings.

The £100 bonds to raise capital will be issued over the next five years and pay a rate of 7%, and will be used to finance the building of the development.

"I am delighted that we will be issuing a bond through the London Stock Exchange to raise additional funding for the development and construction of our new Formula 1 campus," said Stroll.

"We are excited by the chance to offer investors, and most importantly Formula 1 fans, the opportunity to be a part of Aston Martin Formula 1 Team's journey and participate in our ultimate ambitions – to achieve World Championship success and advance the value creation of the team."

AMR GP Holdings Ltd. is 57.4% held by Stroll, 37.1% by a consortium in which he is a participant and 5.5% by the company's management.

Speaking at last month's breaking of the ground as the work on the factory build began, Stroll said it's the beginning of a process that is aiming to build the team up to become a World Championship contender.

"It is inspiring to look at where we are now in the context of the architectural and organisational challenges and ambitions that lie ahead," Stroll said regarding the new facilities.

"Our new buildings reflect not only the scope of our determination to become a World Championship-winning force, but also the scale of our growth and development as an organisation.

"I feel strongly that any building is a powerful representation of the people who work within it, and I am thrilled that we are creating a new home in which people can work, collaborate, create and win together.

"It is exciting to think that the entire team will be in its new home by the end of 2022 or the start of 2023, and I would like to take this opportunity to thank all our partners who are working on the project."

It's time for the latest episode of the RacingNews365 podcast, with F1 journalists Dieter Rencken, Thomas Maher and Mike Seymour discussing Lewis Hamilton's strategy drama and much, much more from the Turkish Grand Prix.

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