Amidst rumors regarding Lawrence Stroll looking for an exit from Aston Martin, the team recently saw a minor share being sold to US private equity firm Arctos Partners. While no official statement was put out, the word in the paddock is that 10% of the team was sold for a sum of $100 million, valuing the team at $1.1 billion.
However, as per F1 journalist Joe Saward, Lawrence Stroll believes that his team is worth much more than $1.1 billion. In the latest edition of Saward’s Green Notebook blog, the journalist states, “Stroll thinks the team is worth more than this, with his expectation is believed to be in the region of $1.6 billion.”
However, no one is currently interested in paying a sum that big. This might just come down to the underperformance of Lawrence Stroll’s son, Lance Stroll, who hasn’t been able to contribute to the team as much as his teammate Fernando Alonso has.
Saward notes, “Here is no doubt that if his father did not own the team, Lance Stroll would be out by now.” There have been numerous questions about Stroll’s place in F1, given the huge difference between his performance and that of Alonso. While Alonso has managed to put 200 points on the board, Stroll has only managed a meager 73.
However, Saward believes that Stroll still has 90% of the team to sell and, thus, is using the Arctos deal to set a precedent for more future transactions. As per the latest rumors, the Canadian Billionaire is trying to convince various investors to help him out with the Aston Martin project.
Lawrence Stroll isn’t going anywhere
Arctos Partners have an extremely impressive portfolio when it comes to investments in sports teams. The portfolio contains NBA teams like Sacramento Kings and Utah Jazz, and MLB teams like Boston Red Sox, San Francisco Giants, and Los Angeles Dodgers. Therefore, investing in Aston Martin seems like a way for them to expand their horizons and enter into newer sports.
As for Lawrence Stroll’s role in the team, Aston Martin F1’s Managing Director Jeff Slack has confirmed that the Canadian entrepreneur does not have any plans to sell off his team and leave. Slack explained, “Lawrence is fully committed; he’s not going anywhere.”
Slack claimed that money is never an issue for Stroll, who is an extremely wealthy man. Therefore, he would never look to sell off his team just for the funds. As for the recent sale to Arctos, Slack explained that Stroll would always keep the majority shares with himself to keep control over the team.
