News: Bye Bye Racing Point, Hello Aston Martin Formula 1

Bye Bye Racing Point, Hello Aston Martin Formula 1

James Gent By James Gent
January 31, 2020
1 comments

Racing Point F1 is set to become the Aston Martin works team in Formula 1 from 2021 onwards following the announcement that a consortium led by Racing Point owner Lawrence Stroll has made a ‘significant investment’ into the luxury British marque.

The deal will see the consortium led by Stroll, who took control of the former Force India F1 team mid-way through 2018, take a 16.7 per cent stake in Aston Martin for an estimated £182 million (around $239 million USD).

The move means that Aston Martin will now return to the F1 grid for the first time since 1960 as part of a 10-year deal, as confirmed on formula1.com.

Racing Point’s current driver line-up is unlikely to change though, with Sergio Perez, an eight-time podium finisher and F1 alumnus since 2011, signed to a long-term contract. The second seat meanwhile is currently held by Canada’s Lance son-of-Lawrence Stroll, another F1 podium finisher, who will enter his fourth F1 season next year.

The newly announced deal also effectively brings an end to the current racing relationship between Red Bull Racing and Aston Martin after a four-year tenure, during which the collaboration sealed 12 wins, 50 podiums and six pole positions up to and including the 2019 Abu Dhabi Grand Prix. In a statement made by Red Bull Racing, Aston Martin will remain the team’s title partner for the duration of 2020, but the deal will not be extended thereafter.

The Racing Point announcement does not affect the on-going technical relationship between Aston Martin and Red Bull Advanced Technologies on the Valkyrie project. The relationship is set to continue until the 1,160hp, Cosworth V12-powered hypercar is delivered to customers.

*Images courtesy of Red Bull Racing, Racing Point F1, and Aston Martin

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Margaret James
Margaret James

Should be interesting. Wish them luck.