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Aston Martin Sells Stake in F1 Team to Raise Cash
The Aston Martin Formula 1 team will soon no longer be owned by Aston Martin. The company sold off its stake in the team as part of a fundraising campaign that’s expected to bring in over $160 million.
Selling its stake in its Formula 1 team is expected to bring the company at least £74 million (about $96 million), according to industry trade journal Automotive News (subscription required). There’s no word on who purchased the stake yet, but the team is controlled by company chairman Lawrence Stroll. He bailed out Aston Martin in 2020, and he has directly and indirectly invested a great deal of money into the brand since. As of this writing, nothing suggests that major changes, like a new team name, are around the corner.
Yew Tree, an investment group led by Stroll, will pump an additional £52.5 million (around $68 million) into Aston Martin to increase its stake to roughly 33%. That figure represents approximately 75 million shares, and Yew Tree is already planning on upping that number to 35% in the near future. But investing in a carmaker isn’t as simple as wiring money: There’s a law in the United Kingdom that forces any firm that owns over 30% of a company to make an offer to buy the remaining stake. Yew Tree wants to apply for an exemption, which suggests it’s not interested in becoming Aston Martin’s sole shareholder.
All told, Aston Martin is expected to raise £125 million (around $162 million) by selling assets. The brand will use the money to implement a plan designed to help it return to profitability. Adrian Hallmark, the ex-Bentley boss who became Aston Martin’s CEO in October 2024, said this past February that he expects to “fix” the company in 12 to 18 months. His plan involves increasing sales, boosting productivity, and rejigging the brand’s cost structure. Aston Martin had already slashed 170 jobs (about 5% of its workforce) since 2020.
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I am mixed on this, not because the sold the F1 team but I have my concerns about the financial state of Aston Martin. It’s going to be interesting to see how this all goes. Hopefully they continue to do fine
Based on this information _ it’s a who knows, we’ll see.
I found $17.86 in my spare change cubby – how big a stake will that get me?
David Brown couldn’t make them profitable in the 1960s. Victor Gauntlett couldn’t get them into the black in the 80s. That company is just star-crossed. Glad they’ve been gracing the roads with their presence, but it seems like a century-long struggle.
Questions about the F1 team.
Who is buying?
Wouldn’t it have made a lot of sense to sell to Andretti?
What about Adrian Newey?
… And who will replace Lance Stroll?
OK. What I didn’t get from the article is that Lawrence Stroll is increasing his share of the F1 team. That should have limited affect on the team. Window licker and the Wizard will likely remain in place.
It doesn’t seem like nearly enough money to make a difference. They must be desperate for cash.