Photo Credit: Aston Martin Aramco Cognizant F1 Team
Entering the winter break there has been quite a lot of speculation revolving around Aston Martin, as rumor has it that owner Lawrence Stroll is ready to sell it.
It all started back in November when — just ahead of the Las Vegas Grand Prix — it was announced that Arctos Partners bought a minority percentage stake in AMR Holdings GP Limited.
But Stroll, who acquired the team back in 2018 — when it was still Force India — has made it clear that he has no intention of selling the company
“I don’t know where that speculation came from, I’ve read it in one or two publications recently,” he acknowledged the matter in an interview with The New York Times.
“You don’t go spending hundreds of millions of pounds, building the greatest new Formula 1 campus, if you’re about to leave the business, and you don’t go hiring another 400 of the greatest employees if you’re about to leave the business.”
A 37,000m2 (400,000sqft) building based in Silverstone, whose first part was opened only a few months ago ahead of the British Grand Prix.
“I’ve proven through my commitment and it could not be any further from the truth, that I have any interest in ever not being the majority shareholder of this team for a very, very, very, very long time, and it is the same with the road car company,” he remarked.
“I plan to run these businesses for many, many years. I’m at the beginning of the journey on both.”
And in selling a share to the Dallas based corporation Stroll argues he has not made a casualty choice, rather picked on a valuable partner for Aston.
Indeed, Arctos is a private equity firm that is not new to the sport environment, having invested in many relevant players, including Premiere League’s Liverpool, Paris Saint German and some of the biggest baseball teams like LA Dodgers, Chicago Cubs, San Francisco Giants and Boston Red Sox.
“It made great sense to take them as a minority partner for what they bring to the business,” explained Stroll.
“They add value and particularly in America with all their investments with their other sports teams. There have to be some financial synergies and commercial opportunities that we could do together through sponsorship, marketing, etcetera.”
“So that was the motivation for letting them buy a minority stake. Great reputation, American-based, super people who are very aligned with my vision of a very long-term future.”
“So that was the motivation for letting them buy a minority stake. Great reputation, American-based, super people who are very aligned with my vision of a very long-term future.”
In Aston’s agreement with main sponsor Aramco, however, it is included the possibility for the Saudi Arabian company to buy 10 percent of the team — something that Stroll shrugged off.
“That’s true, but we’re not open for anymore investment. I always want to stay the majority shareholder. That will never change,” he said.
“When I say never, one day, but certainly not in the next 10 years, if I could put it in that duration. Hopefully longer.”
“I’m not getting any younger each day. I feel younger, but I’m not getting any younger. But I’m not going anywhere.”
