“Business as usual” for Aston Martin in Japan after stake sale plan

Aston Martin team principal Andy Cowell insists he has no concerns over the long-term future of the team despite news that Aston Martin Lagonda is planning on selling its stake in the Formula 1 outfit.

The car company announced on Monday that it was making it was putting its shares in the F1 team up for sale, having cut 170 jobs last month with fewer cars sold in 2023.

The decrease in global sales was attributed to production delays and has now led to the decision to sell its F1 stake in order to commit an extra £52.5million to Aston Martin Lagonda.

Executive chairman Lawrence Stroll has insisted the sale will not affect Aston Martin’s name being associated with the F1 team and Cowell shared a similar view when asked if he was worried by the news.

“No concern, business as usual,” he told Autosport when asked during a media session at the Japanese Grand Prix.

“It just shows that Lawrence is hugely committed to Aston Martin road cars and the Formula 1 team and that commitment has been in place for many years.

“We’ll be racing as Aston Martin for a long time to come.”

Lawrence Stroll, Owner, Aston Martin F1 Team

Photo by: Andy Hone / Motorsport Images

Stroll’s Yew Tree Consortium is set to invest approximately £51.5m into the luxury car company, increasing its ownership to around a third, up from the current 27.7%. This reflects a huge commitment from Stroll, who acquired his first stake in the business back in 2021 with an investment of £182m, giving him 16.7%.

“I am pleased to clearly demonstrate my unwavering support and commitment to Aston Martin,” he said.

“Since 2020, my Yew Tree Consortium partners and I have invested around £600m into the company.

“This proposed investment further underscores my conviction in this extraordinary brand, and commitment to ensuring Aston Martin has the strongest possible platform for creating long-term value while reducing equity dilution via this premium subscription, which should greatly reassure shareholders, as I again increase my long-term ownership in the company.

“Today’s proposed investment, priced at a premium to the market price, and the forthcoming proposed sale of the Aston Martin F1 team shares owned by Aston Martin at a premium to book value, is expected to generate significant additional liquidity for the Group, of over £125m.

“With a long-term sponsorship agreement cementing the existing relationship between Aston Martin and the Aston Martin F1 team, our brand will remain present and competing at the pinnacle of motorsport for many years to come.”