Aston Martin Sells F1 Team Naming Rights to Lawrence Stroll for £50 Million
Aston Martin is selling its F1 team's naming rights to majority owner Lawrence Stroll for £50 million in a bid to shore up finances, as the company issues another profit warning. The move comes as the team faces technical challenges in pre-season testing with its new Honda power unit.
Aston Martin has agreed to sell the naming rights of its Formula 1 team to executive chairman and majority shareholder Lawrence Stroll for £50 million, as the British car manufacturer seeks to stabilize its finances amid a series of profit warnings. The deal, pending formal shareholder approval, coincides with a troubled pre-season test for the team as it begins its new power unit partnership with Honda.
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