Whether Stroll will show longer investment stamina in cars than in fashion remains to be seen. In 2018, he led a group of investors to lift the Force India Formula 1 team out of administration. Renamed Racing Point, the U.K.-based team now counts among its drivers Stroll’s 21-year-old son, Lance, who finished 15th in the 2019 drivers’ championship. Despite pumping about $118 million into the team, it ended up in seventh place in the championship. Still, since F1 cars are designed the year prior, 2020 will be the true test of Stroll’s foray, according to Formula Money, which tracks the business of F1.
“Most F1 owners don’t invest in F1 to make money,” said Caroline Reid, the publisher Formula Money. “For most team owners, F1 is a marketing exercise. Most usually, it’s a good way to promote road cars.”
That could be an important extension for Aston Martin. As part of the deal, Stroll’s F1 team will become the Aston Martin Team in 2021, for a 10-year term. For teh carmaker, which has gone bust 7 times over the decades, its another attempt at a turnaround in rapid succession.
Fans of the brand now can look forward to not just the latest Bond movie this year, but can hope for a new investor who will display a more lasting commitment than the live-and-let-die approach of Stroll’s predecessors.
This article was provided by Bloomberg News.