The F1ormula 1 paddock has been afloat for quite some time now with chatter that Lawrence Stroll wants to wipe Aston Martin off of his hands. Now, after a $310,000,000 move in the financial markets, that rumor has finally caught wind as per reports emerging on X.
According to Bloomberg, Lawrence Stroll’s Yew Tree consortium currently holds a 26.2% stake in the iconic British automobile giants. However, according to reports, about 15% of Aston Martin’s shares, worth approximately about $310,175,625 have been traded earlier today. That being said, the identity of who sold these shares and who bought them is still unknown.
Earlier this year, Stroll made headlines when major Chinese Automobile player, Geely purchased a pretty hefty chunk of the Company. Ever since, the rumor mill has been churning one report after the other about the Canadian’s intentions of exiting the team.
The reasons behind Stroll Sr. wanting to exit the sport are not driven purely by the financials, however. According to paddock insiders and experts, the Canadian business mogul has been frustrated with how his son, Lance Stroll has been performing. To top it all off, reports suggesting that the 24-year-old has fallen out of love with the sport has only added more fuel to this particular fire.
Financially speaking, Stroll’s exit would not mean the end of the world for the Company’s F1 operations, immediately. However, the long-term future of the team could be in a limbo depending on how the new owners will warm up to the sport. As things stand, the Saudi state fund seems to be the most likely destination for Aston Martin if indeed Stroll Sr. has made up his mind to sell the team.
Lawrence Stroll has good reason to leave Aston Martin and F1
As reported, Geely had secured around $174,000,000 worth of stock in Aston Martin. Resultantly, Geely now owns a substantial 17% stake in the Company. Evidently, there seems to be a lot of movement in the money markets with Aston Martin being traded like a hot commodity. But is it enough to imply that Stroll wants to cash-out?
Lawrence Stroll has been associated with the team since its ‘Racing Point’ days. After the Vijay Mallya-led Force India team was thrust into administration, Stroll stepped in to buy the team. After two seasons under the Racing Point name, Stroll’s foray into ownership of Aston Martin led to the team being rebranded.
Behind the scenes, though, Stroll has been faced with adversity. The ambitious Valkyrie project being embroiled in a ugly legal tussle and the teams inability to register a win this year despite a promising start are just the tip of the ice-berg.
Even though Aston Martin sit in the constructors’ standings in a respectable fifth, it cannot be ignored that it can all be credited to only Fernando Alonso. While the Spaniard has been wracking in the points, his teammate, and Stroll’s son, Lance has been struggling for pace and results as he languishes in the bottom half of the driver’s standings.
