In this first stage of the season, Aston Martin you are not highlighted including it was expected: the machine does a lot of effort, though Updated, in qualifying and bring i two pilots having to leave almost always from the bottom and reassemble. It is precisely for this reason that at tBritish eam need a hand and Lawrence Stroll, team owner and father of Lance, is staying moving into the world of investments and seems to have found the right company for this challenge.
Agreement between Aston and PIF
The company that acquired 17% of the team is the Public Investment Fund (PIF) Saudi. Well known organization through the collaborations with famous brands worldwide, such as Boeing, Disney, CitiCorp, Facebook, BP, Marriott, Uber, Tesla, Nintendo and Total. Was present in F1 already before reaching an agreement with Aston Martin: in July 2021, the PIF became a major investor of the McLaren Group. Remaining in the sports arena, the Saudi fund owns Newcastle United association football club , LIFE Golf, a golf association at the center of much controversy.
This collaboration it will help a lot British team given that, thanks to the help of the PIF, they will enter the team's coffers about 653 million pounds resulting from this collaboration e the one with Mercedes-Benz.
“This is a game changer”
Aston Martin chairman Lawrence Stroll spoke about all this and about a newcomer in the technical direction of the team. Let's talk about Amedeo Felisa who, as a former head of Ferrari, will be theCEO of the team after the dismissal of Tobias Moers in May of this year. These are Stroll's words: “Overall this is a game-changing event for Aston Martin. It helps support the delivery of our plans and accelerate our long-term growth potential.”
“This investment transforms our balance sheet, liquidity and cash flow profile and provides greater clarity on our path to become sustainably free cash flow positive and create meaningful shareholder value. With the new management team, led by Amedeo Felisa, we have the right team and the right strategy to fully realize Aston Martin's long-term potential. Aston Martin's return to the pinnacle of motorsport with the Aston Martin Aramco Cognizant F1 Team has ushered in a new era for our iconic British brand. Our focus on building brand equity and unlocking Aston Martin's potential is already producing growing demand from a new generation of customers, with over 60% new brand customers in 2021.".
ARTICLE BY FRANCESCO ORLANDO
SOURCES AND STATEMENTS: Motorsport.com
