Lawrence Stroll would be the happiest team owner after the 2023 Bahrain GP. Fernando Alonso’s podium saw Aston Martin’s share price surge, netting the company an additional $300 Million on its market cap.
The AMR23’s pace shocked the likes of Mercedes and Ferrari. The promising start has confirmed the team will be Dark Horses this season. And it’s predicted that either Fernando or Lance could bag the team’s first F1 race win this season.
The season looks bright for Aston who seems to be leading F1’s midfield. Seeing the opportunity to double down on his investment the $2.9 Billion worth Canadian businessman has planned to inject extra cash into the team.
Also Read: Toto Wolff Credits Ex-Red Bull Engineer for Giving Lance Stroll Massive F1 Performative Boost
Lawrence Stroll to increase investment in Aston Martin
The Mighty Lawrence Stroll has turned around the image of Aston Martin in the past couple of years. Stroll invested $238 million for 16.7 % of the British car manufacturer in 2020 becoming the Executive Chairman of the team.
Since then his stake in the company has grown to around 25%. And in 2021, he branded the Racing Point F1 team introducing Aston Martin back in the F1 grid after
With Aston Martin looking threatening in 2023, Lawrence is planning to sustain the momentum of the team. Sources close to the Canadian have reported that he is considering investing more in the team in the following years.
Aston Martin’s stock is up 15% today after Fernando Alonso finished 3rd during this weekend’s Bahrain GP.
That means the company has added $300 million to its market cap in just 24 hours🤯 pic.twitter.com/4m2Mjms9vv
— Joe Pompliano (@JoePompliano) March 6, 2023
Aston is pretty new in the F1 grid and yet, they’ve already shown they can challenge the top 3 this season. The team already have a proven World Champion winner in Fernando Alonso. And have recruited extremely skilled individuals to manage the technical side from Red Bull and Mercedes.
Lawrence regards the team are on a “five-year journey to be fighting for World Championships.” And the financial impetus could propel the team further in this direction.
Also Read: Toto Wolff to Benefit From Aston Martin’s $300 Million Share Price Boost After Bahrain GP
How Stroll’s takeover changed Aston Martin’s fortunes
Before Lawrence Stroll stepped in, Aston Martin was struggling with bankruptcy. The company, which had been experiencing financial difficulties for some time, was losing its hold.
But since then the British luxury carmaker’s fortunes have changed. He reorganised the business, streamlined its operations, and reduced expenses. Stroll also brought in Tobias Moers from Mercedes AMG as the new CEO.
VAMMMOSSSSS @alo_oficial!#BahrainGP pic.twitter.com/McWGzxKwGl
— Aston Martin Aramco Cognizant F1 Team (@AstonMartinF1) March 5, 2023
The investment has also allowed Aston Martin to develop new models and expand its product line. The company has launched a range of new cars, including the DBX, its first-ever SUV. This has helped to diversify the company’s offerings, appealing to a broader range of customers.
This also attracted investment in the company. The likes of Mercedes F1 CEO and Team Principal Toto Wolff, Saudi Arabia’s Public Investment Fund, Swiss Pharma Mogul Ernesto Bertarelli, Mercedes Benz and Chinese automaker Geely have all invested in the brand.
Stroll has already invested hundreds of millions in the F1 team. This includes a $250 Million injection in developing it’s new base in Silverstone and the development of a new wind tunnel.
Also Read: “Too Good to Be True”: Fernando Alonso Opines Whether Aston Martin Can Run for The 2023 Title
