“This is a game changing event for Aston Martin”: Lawrence Stroll ropes in new Saudi investor for his team
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Lawrence Stroll
At the end of 2020, when it was announced that the Racing Point would be remodeled into Aston Martin, the media went into a frenzy to cover the incident. There were many speculations that Aston Martin would be a bigger and better version of its previous edition, with newer investors, better innovations and more advanced technology. But Lawrence Stroll‘s team has not been able to live up to the expectations till now. 2021 was an abysmal year for the British team as they could only make it to seventh in the standings. This was a huge decline from Racing Point‘s 4th spot in the 2020 standings.
Then, there were a lot of financial troubles in store for the team as its share price declined and the team failed to attract big investors. But that is all in the past now, as Canadian multimillionaire Lawrence Stroll has managed to get the Saudi Arabian Public Investment Fund onboard to invest in Aston Martin. The Saudi Arabian PIF has opted to acquire a large stake in the F1 team, and with such a large sum pouring in, Aston Martin is expected to do better in the coming days.
While disclosing the happy news about his team, Lawrence Stroll spoke with conviction about the bright future that awaits Aston Martin, thanks to the PIF’s huge funding.
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Lawrence Stroll talks about the “gamechanging” investment that Aston Martin has recently secured
For the unprecedented, the Saudi Arabian Public Investment Fund is the owner of Aramco, the biggest oil company in the world. If the reports are to be believed, PIF has acquired about €770 million worth of shares in Aston Martin. Nevertheless, current F1 racer Lance Stroll’s father Lawrence Stroll still remains the biggest shareholder in the team, and according to him, the team is on the right track to put their name on the map as one of the prominent F1 teams.
While speaking about the investment made by the PIF for Aston Martin, Lawrence Stroll said, “This is a game changing event for Aston Martin that aligns with our strategic plans and accommodates our long-term growth. With Felisa’s new leadership, we have the right team, and the right strategy, to get everything out of the brand.”
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Riddhi Mondal
(1821 Articles Published)