Aston Martin is in serious financial problems. The car brand was already taking action to get more money.
Car manufacturer Aston Martin is in big financial problems. As a result, the car brand has put the share of the F1 stable bearing its name.
At the moment, Aston Martin’s financial situation is very awkward. As a result of the sales of cars, the company’s debt burden has increased to over one billion euros. The company has had to terminate more than 170 employees in a weak economic situation.
Aston Martin, who needs his business, announced that he was selling his share of the F1 stable in the early weeks. From this store, the car brand expects to receive about one hundred million euros.
Despite the name, Aston Martin is a minority shareholder in the F1 stable. The main owner is Lawrence Stroll. The Canadian billionaire says he has bought an additional share of Aston Martin through his investment company.
As a result, Stroll’s share of Aston Martin is 33 per cent.
Stroll acquired the F1 team in 2018 when the team known for Force Indiana got into financial problems. Known as Racing Point for two seasons, the stable was branded again for Aston Martin for the 2021 season.
The drivers of the stable are Fernando Alonso as well as the son of the owner-Stroll Lance Stroll.
Memories of history
Aston Martin’s financial problems and the abandonment of the F1 team’s shareholding do not affect the operation of the stable, the inside of the stable is insured.
– We will compete under the name of Aston Martin for a long time, the team manager Andy Cowell Said the Autosport.
Aston Martin’s problems and withdrawal from the F1 project bring to mind memories of history. In the first decade of the 2000s, the F1 was a bustling field for big car manufacturers, but as the international financial crisis hit almost all car manufacturers, the switch raised the switch quickly.
In 2008, there were six car manufacturers, two years later three.
Aston Martin returned to the F1 series for the season 2021. Aop