[Team] Aston Martin Racing in 2023. One of the cars still has Alonso.

[karting]

https://astonmartin.newsweaver.com/i...ent_vfinal.pdf

A small Extract at the end

Aston Martin Lagonda has entered into an arrangement under which the Racing Point F1TM team will become the Aston Martin F1TM works team with effect from the 2021 season, as described above. Under this arrangement, the parties have agreed to use all reasonable efforts to negotiate in good faith with a view to agreeing a formal sponsorship agreement as soon as reasonably practicable, and in any event within 28 days of this announcement.
Further details will be contained in the Combined Circular and Prospectus when published including in relation to the relationship agreement with the Consortium, the F1TM sponsorship arrangement and Mr. Stroll’s appointment letter.

[crmalcolm]

An article on racefans related to the story.

Part of this confuses me:

Red Bull confirmed it has “agreed to release Aston Martin from its Formula 1 exclusivity clause which in turn has allowed it to generate the necessary investment required to re-finance and pursue alternative opportunities within the sport”.

and

Aston Martin’s current title sponsorship deal with Red Bull, believed to be worth around $20 million, will end after this season.

If the sponsorship is ending after this season, why would AM need to be released from exclusivity?

[MGDavid]

so that they can tell everyone about the future plans with Stroll now and generate more publicity for the road car brand.

[midgetman]

Which is what it is all about. Their sponsorship ends and they're trying to generate column inches. Let's see what really happens when it actually happens.

Sent from my SM-G950F using Tapatalk

[Mike Harte]

Before everyone gets too excited by this announcement, you should also read this article from today's BBC website that states that Stroll is leading a financial rescue plan for Aston Martin. https://www.bbc.co.uk/news/business-51323241.

I would imagine that the same story is covered by other financial websites.

[billy bleach]

Originally Posted by crmalcolm

An article on racefans related to the story.

Part of this confuses me:

Red Bull confirmed it has “agreed to release Aston Martin from its Formula 1 exclusivity clause which in turn has allowed it to generate the necessary investment required to re-finance and pursue alternative opportunities within the sport”.

and

Aston Martin’s current title sponsorship deal with Red Bull, believed to be worth around $20 million, will end after this season.

If the sponsorship is ending after this season, why would AM need to be released from exclusivity?

Its business speak for they have been paid off!

[broadrun96]

Originally Posted by Mike Harte

Before everyone gets too excited by this announcement, you should also read this article from today's BBC website that states that Stroll is leading a financial rescue plan for Aston Martin. https://www.bbc.co.uk/news/business-51323241.

I would imagine that the same story is covered by other financial websites.

There's been a few rounds of reporting about his groups trying to find the cash to buy out Aston but not much has come of it really. I would venture that this deal shows there's a bit more smoke now and there's something there.

Updated about 40 min ago and appears he has brought money and gets 20% stake in Aston, his consortium brings 182 million pounds and the remaining 318 raised from existing investors. Oh and he's now the chairman after all the ink is dried.

[broadrun96]

Originally Posted by MGDavid

so that they can tell everyone about the future plans with Stroll now and generate more publicity for the road car brand.

Originally Posted by crmalcolm

An article on racefans related to the story.

Part of this confuses me:

Red Bull confirmed it has “agreed to release Aston Martin from its Formula 1 exclusivity clause which in turn has allowed it to generate the necessary investment required to re-finance and pursue alternative opportunities within the sport”.

and

Aston Martin’s current title sponsorship deal with Red Bull, believed to be worth around $20 million, will end after this season.

If the sponsorship is ending after this season, why would AM need to be released from exclusivity?

I would guess Red Bull has the exclusive rights to negotiate until the end of the term, similar to many athletes not being able to talk directly until the end of the deal. This allows Aston and Stroll to negotiate and develop a new deal. I would guess there is a buyout hidden somewhere in there and an announcement about Stroll leading a consortium to take Aston private again would be forthcoming. (So no buyout but it appears he has brought money and gets 20% stake in Aston, his consortium brings 182 million pounds and the remaining 318 raised from existing investors. Oh and he's now the chairman after all the ink is dried.

And funny enough it would bring Aston cars to the track with Mercedes engines. Wait, that sounds familiar

[chillibowl]

pretty smart deal though right?

instead of just pumping his own money into Racing Point, he acquires a new asset by buying into Aston and can now direct the board to use Aston Martin money to fund his racing team.

plus his team gets a much better name!

[broadrun96]

Originally Posted by chillibowl

pretty smart deal though right?

instead of just pumping his own money into Racing Point, he acquires a new asset by buying into Aston and can now direct the board to use Aston Martin money to fund his racing team.

plus his team gets a much better name!

And a place to send his son when the F1 talent dries up?

And I'm not begrudging the deal at all. His track record seems to be pretty good with businesses so far.

[P38 in workshop]

I was reading earlier that Aston Martin have effectively gone bust 8 times during their existence.Each time an optimist has come along hoping to perform a miracle-rinse and repeat.


Still-its a better name than Racing Point would ever be.

[S griffin]

Aston Martin have done well to still be around. Certainly there have been times it has been hanging on to it’s fingernails, we’ll see how it goes now. I feel the team has plenty of potential, so hopefully it can use this season as a launching pad for better things in future. You never know...

[GT6]

Well we will see what happens at Aston Martin, as said before the company needs a fair bit of investment to keep up with the other luxury sports car companies and to be honest i can't see the electric SUV being a massive cash generator

[Mike Bell]

Originally Posted by GT6

Well we will see what happens at Aston Martin, as said before the company needs a fair bit of investment to keep up with the other luxury sports car companies and to be honest i can't see the electric SUV being a massive cash generator

I think it’s the new Welsh factory being built for the DBX that’s absorbing all the cash. And if that’s the SUV you’re referring to, it’s AMG twin turbo V8- definitely not an EV!

[GT6]

Originally Posted by Mike Bell

I think it’s the new Welsh factory being built for the DBX that’s absorbing all the cash. And if that’s the SUV you’re referring to, it’s AMG twin turbo V8- definitely not an EV!

By the time it goes on sale, it will almost certainly have an ev option, By then not sure any car maker will be allowed to have no electric options

[S griffin]

It’s funny how the previous incarnation, Force India, came close to a deal with them only in 2015. No wonder Vijay has reacted happily to the deal between Stroll and Aston. Will be a bit of a shame that RBR won’t have a partnership with Aston anymore, they seemed to go together well IMHO

So this team started out Irish, then got bought out by the Russians, then a Dutch car company, then by the Indians, then by the Canadians and has now done a deal with a legendary British car company

[hoffman66]

Interestingly I was interviewed for a job recently, and they were at the time doing work for Aston martin, bizarrely the work was lost after i attended. So the offer was withdrawn, they were pretty much the only firm doing that much work with them.

Either a lame excuse or AM were tightening the strings a bit just before this was all done and pulled out of this work for now. It was for stuff not yet in prod.

[broadrun96]

Originally Posted by Mike Bell

I think it’s the new Welsh factory being built for the DBX that’s absorbing all the cash. And if that’s the SUV you’re referring to, it’s AMG twin turbo V8- definitely not an EV!

It's exactly that using up the reserves. Dealers aren't buying as many as previously but the cars are selling faster than previous years. Days on inventory were down by a higher percentage than the whole sale decline. The cars are made at a profit and outside of factory construction AM is making money. The delays in the factory and poor terms on the previous loans were hurting short term.

And buying an electric power train isn't that difficult now. They wouldn't start from scratch

[Mike Bell]

Originally Posted by GT6

By the time it goes on sale, it will almost certainly have an ev option, By then not sure any car maker will be allowed to have no electric options

We digress , but this is how it’s being reported in the motoring press... https://www.motor1.com/news/396447/a...ys-lagonda-ev/

[P38 in workshop]

The business journalists have been reporting for some while that Aston Martin had a serious need for more operating capital.Adding to their range was making the need rather more acute and the account in post #17 would suggest that some of the expenditure had been put on ice.Maybe a consequence of their public listing as quoted companies have to be a both more transparent and more prudent than their private counterparts.I suspect the initial cash injection will turn out to be just the first installment and several more will be needed.Maybe the reflected glory of Formula 1 involvement will shift a few cars and assist with a return on the mountain of money that will be tied up.

[Nononsensecapeesh]

A repeat of 1959 and 1960 is hardly likely

[Adam43]

What do you mean? Win Le Mans? Get a point in F1?

[Nononsensecapeesh]

Originally Posted by Adam43

What do you mean? Win Le Mans? Get a point in F1?

Get a point in F1.

[S griffin]

I think you would be surprised, I expect to see improvements made by Racing Point this season

[Nononsensecapeesh]

Originally Posted by S griffin

I think you would be surprised, I expect to see improvements made by Racing Point this season

All the more reason why Aston Martin's 2nd attempt should be more successful than 1959/1960.