Aston Martin Set To Return To F1 In 2021 | Performance Racing Industry
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Aston Martin Set To Return To F1 In 2021
April 3, 2020
The Racing Point team, which is owned by Lawrence Stroll, will be rebranded in 2021. Stroll has been appointed as the executive chairman of Aston Martin, which will field its own F1 team for the first time in 60 years.
Aston Martin Set To Return To F1 In 2021

Racing Point has confirmed Aston Martin's return to the Formula 1 grid.

The Racing Point team, which is owned by Lawrence Stroll and will be rebranded in 2021, announced in a press release that the shareholders of Aston Martin Lagonda approved a fundraising of 536 million pounds ($664 million) on Monday, underpinned by an injection of 260 million pounds ($322 million) from investors led by Stroll.

The move makes Stroll the executive chairman of Aston Martin, which will field its own F1 team for the first time in 60 years. The team will continue to operate from its Silverstone base.

“A brand with the pedigree and history of Aston Martin needs to be competing at the highest level of motorsport. I think it’s the most exciting thing that’s happened in recent memory in Formula 1 and it’s incredibly exciting for all stakeholders in the sport, especially the fans. I can’t think of a better name for a Formula 1 team," Stroll said.

Speaking to the ongoing coronavirus pandemic, and how it will affect plans for 2021, Stroll stated "Of course, as racers, we are all very frustrated not to be competing, but we all understand the bigger picture in this global fight and so we stay at home. The team is also supporting Project Pitlane to help accelerate the production of ventilators. In the meantime, we can rely on video conferences to keep our plans for 2020 and 2021 moving forward. I am committed to Formula 1 with a long-term vision and this is just a temporary pause in the journey.”

For more information, visit racingpointf1.com.