F1 News: Aston Martin Chief Squashes Exit Rumours - "Beginning Of The Journey"

Aston Martin F1 chairman Lawrence Stroll has strongly dismissed rumours of his potential exit from the team, emphasising his long-term commitment and describing this period as "the beginning of the journey."

Key Takeaways:

• Stroll's Firm Commitment: Lawrence Stroll has made significant investments in Aston Martin F1, stating, "You don’t go spending hundreds of millions of pounds, building the greatest new Formula 1 campus, if you’re about to leave the business."
• Strategic Minority Investment by Arctos Partners: Stroll acknowledges the value added by Arctos Partners, saying, "It made great sense to take them as a minority partner for what they bring to the business."
• No Further Investment Plans: Stroll intends to remain the majority shareholder, affirming, "I always want to stay the majority shareholder. That will never change."

Aston Martin F1 chairman Lawrence Stroll has emphatically dismissed any suggestions of him relinquishing his ownership in the Formula 1 team. During an interview with the New York Times, Stroll said:

“I don’t know where that speculation came from. I’ve read it in one or two publications recently."

Stroll emphasised his commitment to the team: 

“You don’t go spending hundreds of millions of pounds, building the greatest new Formula 1 campus, if you’re about to leave the business, and you don’t go hiring another 400 of the greatest employees if you’re about to leave the business.

"I’ve proven through my commitment - and it could not be any further from the truth - that I have any interest in ever not being the majority shareholder of this team for a very, very, very, very long time, and it is the same with the road car company.

"I plan to run these businesses for many, many years. I’m at the beginning of the journey on both.”

Despite the possibility of Aramco acquiring a 10 percent stake under their agreement, Stroll has no plans to seek additional investment. 

“That’s true, but we’re not open for anymore [investment]. I always want to stay the majority shareholder. That will never change. When I say never, one day, but certainly not in the next 10 years, if I could put it in that duration. Hopefully longer."

Discussing the partnership with Arctos Partners, Stroll explained: 

“It made great sense to take them as a minority partner for what they bring to the business. They add value, and particularly in America with all their investments with their other sports teams.

"There has to be some financial synergies and commercial opportunities that we could do together through sponsorship, marketing, etcetera... So that was the motivation for letting them buy a minority stake.

"Great reputation, American-based, super people who are very aligned with my vision of a very long-term future.”