Racing Point to go under rebrand to become Aston Martin from 2021
The Racing Point Formula 1 team will become Aston Martin from 2021 after significant investment from team owner, Lawrence Stroll. Alasdair Russell has more.
The Canadian fashion billionaire, who’s son Lance races for the Silverstone based outfit, stepped in to help prevent Racing Point, previously Force India, from disappearing off the grid after they went into administration midway through the 2018 season. Stroll has now purchased a 16.7% stake in Aston Martin for £182 million and Racing Point will be rebranded as Aston Martin from 2021 for at least 10 years.
This new deal means that Aston Martin will no longer be the title sponsor of the Red Bull team. Red Bull entered into a partnership with Aston Martin in 2016 and part of this included the design of the Aston Martin Valkyrie, a hypercar designed by aerodynamic genius Adrian Newey and a modified version of which will compete at Le Mans in the World Endurance Championship when the new generation of hypercar regulations take effect at the beginning of the 2020/21 season.
Red Bull released a statement this morning saying, “Following the announcement that Aston Martin’s Title Partnership with Red Bull Racing will conclude at the end of the 2020 Formula One season, Red Bull Advanced Technologies will continue to work with Aston Martin on the Valkyrie project.”
The statement went on to say, “The development of the two-seater mid-engine Valkyrie remains a key project for Red Bull Advanced Technologies, with the first batch of the 150 road-going cars due to be delivered to customers at the end of the year”.
It had been speculated that with Mercedes set to make a decision on their F1 future in the next few weeks that Lawrence Stroll and Aston Martin would buy out the six-time world champions which would trigger Lewis Hamilton to move to Ferrari.
According to Autocar and Racefans a decision will be made at the next Daimler group board meeting, believed to be on the 12th of February.