Aston Martin Lagonda has extended its sponsorship deal with the F1 team that bears its name and strengthened its involvement with the acquisition of a stake in the Silverstone-based team.
The prestigious British sports manufacturer, acquired through a consortium of investors led by Lawrence Stroll in 2020, has obtained the naming rights through the Canadian billionaire’s independent team from 2021.
According to the Times, the agreement, which is set to expire at the end of 2025, has been renewed and will run until 2030.
However, Aston Martin Lagonda has also exercised an option to get a stake of almost £20 million in the F1 team; it is unclear whether new shares have been sold to AML or whether the stake has been obtained from existing shareholders.
The news comes after an era of significant investment by Stroll in which the F1 team adopted a primary upgrade to its infrastructure that includes a new logo factory equipped with a wind tunnel.
Last year, Aston Martin’s on-track functionality began to reflect its owner’s monetary commitment, with the team becoming a wonderful podium contender with F1 veteran Fernando Alonso.
Lawrence Stroll, chairman of Aston Martin Lagonda and owner of the F1 team.
Stroll, AML’s chief executive, described the positive effect F1 has had on the Aston Martin brand.
“Formula 1 has helped the nature of the business and set benchmarks in terms of functionality and credibility by integrating it into our road vehicles,” Stroll said at an AML strategic event at its headquarters in Gaydon, as reported by The Times.
“Formula 1 hasn’t brought us the 2. 3 billion viewers who watch a lovely, green British Aston Martin racing for 24 weekends this season, but it has also brought us a much younger visitor to Aston Martin.
Last week, Aston Martin F1 announced a two-year contract extension for the two-time world champion, the Spaniard will remain on the grid of the Silverstone team until at least 2026.
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