We’ve been covering Aston Martin’s bid to secure new funding and investment opportunities on this space for a while now, including the takeover by the consortium led by Lawrence Stroll. In this update on Gaydon’s situation, Stroll has successfully taken over the reins of the company and, as headlined, a new investor joins the fray.
Mercedes-AMG Petronas Formula One Team principal, Toto Wolff, has purchased shares in Aston Martin Lagonda at a cost of £8 million or $15.7 million Australian dollars. This works out to a 4.77 percent ownership of the company. However, it has been reported that the aforementioned stake will be diluted to 0.95 percent, following a rights issue by the British manufacturer to raise capital in a bid to turn around the struggling company’s fortune.
As result of his investment, the shrewd Austrian businessman – who becomes a private investor in this case – will join his boss from his day job and long-term Aston shareholder, Daimler AG. Now for some, this might sound like a conflict of interest, given Stroll’s plan to turn his Racing Point F1 team into an Aston Martin works team and Wolff who leads the most successful Formula One team of the turbo hybrid era.
To that, a spokesperson from Mercedes has said: “It is a financial investment and Toto's partnership and executive role with Mercedes are unaffected by the transaction."
Bear in mind too, both teams have a close technical relationship with one another, with Mercedes currently providing Racing Point with power units and other parts including the Silver Arrows’ gearbox. In fact, the 2020 RP20 car looks highly reminiscent of Mercedes’ W10 car from 2019, leading some to call it a ‘pink Mercedes’.
However, they are adamant that the investment made by Wolff – who holds a 30% stake in Mercedes-AMG F1 – is purely a financial one, “which will have no impact on his role and partnership with Mercedes”, said a report by F1.com’s senior writer.
That said, Wolff is slated to stay with the team beyond the end of the season. It could also increase the likeliness of six-time World Champion, Lewis Hamilton, signing a new deal that would keep him in team beyond the end of next year as well.
Watch this space for more updates on Aston Martin’s fight to survive. For more information on Aston Martin and for the best deal on your next brand-new car, visit our Showroom today, and take up our Best Price Challenge.