Racing Point and Aston Martin could join forces in F1!

Billionaire Lawrence Stroll seeks big stake in Aston Martin report

Billionaire Lawrence Stroll seeks big stake in Aston Martin report

Lawrence Stroll, the Canadian billionaire and owner of the Racing Point Formula One team, is reportedly preparing to purchase large percentage of Aston Martin.

Aston Martin, one of the most iconic names in British motoring, could enter Formula One as the new identity of the Racing Point team.

Both the Racing Point F1 team and Aston Martin now have bases at Silverstone, although Aston's headquarters are in Gaydon, Warwickshire.

Aston Martin's current majority stakeholder, Strategic European Investment Group, holds about a third of the company.

Aston Martin's share price now hovers around 5 British pounds (approximately $6.57), down from a high of about 16 British pounds shortly after the IPO.

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Reports coming out of RaceFans this morning suggest that the Canadian, worth more than £2 billion, could be interested in investing in the luxury sports auto brand, which now sponsor Red Bull.

Mercedes' parent Daimler DAIGn.DE also has a small stake in Aston.

Stroll, who is estimated to be worth US$2.6 billion ($3.8 billion) by Forbes, made his fortune by investing in and building up many well-known fashion brands, including Pierre Cardin, Ralph Lauren, Tommy Hilfiger and Michael Kors.

Lance Stroll, 21, moved to Racing Point from Williams this season after a consortium led by his father bought the Force India team, which was co-owned by financially troubled Indian magnate Vijay Mallya and had fallen into administration.

Stroll is the father of Formula One driver Lance Stroll, and is also famed for his auto collection, regarded as one of the best collections of Ferraris in the world.

The Silverstone-based team, which uses Mercedes engines, finished seventh overall this season but is planning a factory expansion.

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