Aston Martin CEO Andy Palmer says the ambition of Lawrence Stroll was a key factor in reaching an investment deal this week.
Following around a month of speculation, it was confirmed on Friday the Canadian businessman would be purchasing a 16.7% stake in the British carmaker for £182m and that his Racing Point Formula 1 team would be rebranded as Aston Martin from 2021.
While the investment was much needed for the struggling company, it will also lead to a shakeup in their F1 presence as their title sponsor deal with Red Bull shall end after this year.
And on that aspect of the deal, Palmer is confident that Stroll is putting the Silverstone-based outfit on the path to success.
“It gives us a challenge and, if you talk to Mr Stroll, then you’ll quickly learn he isn’t in the paddock to just turn up,” he told Autocar.
“He is investing in the team to win and we wouldn’t want to be involved with a team that didn’t have a chance of at least podiums.”
Off the track though, is where the biggest changes could come as Stroll looks to guide Aston Martin back on the right path.
“Lawrence and his consortium are a group of pretty big names and it is a great sign of confidence in Aston Martin and our plan that they have invested in us,” Palmer continued.
“They have huge experience in luxury brands and as much as anything that gives the company – and me personally – a group of mentors to work with.
“On a more personal level, Lawrence shares a lot of my beliefs and passions. He was clear that the mid-engined plans had to progress, he has a passion for F1, and F1’s ability to sell cars for you, he can see the value of the hybrid V6 and more.
“He loves cars; he’s an investor who wants to engage. There would be nothing worse than a disengaged investor.”
That being said, it was noted how it did take some time for the final investment deal to be agreed.
“I’m getting too old for all-nighters, but let’s just say it was a late night,” he explained.
“It has been time-consuming, but as I sit here now the company is better funded than it has ever been in the past, with a good product cadence in plan as per the second-century plan and with a commitment to build our own V6 hybrid in the UK. That is compelling.”
