The 2021 F1 season will see Aston return to the grid as a works F1 team operating from the team's base in Silverstone. The move is effectively a rebrand of Stroll's existing Racing Point team.
Aston Martin Lagonda approved a £536 million fundraising round on Monday, underpinned by an injection of £260m of new capital from Yew Tree Consortium - a group of investors led by Stroll.
The current Racing Point team today released a statement detailing the importance of a Formula 1 to the Aston brand.
"There is no better way to build the Aston Martin brand globally, and to engage with its customer base, than to have a successful works team in Formula 1. The sport demands excellence in design and engineering, and relentless innovation, much of which will be shared with the engineering and development teams at Gaydon and will progressively be incorporated into the future generations of cars, particularly the planned range of mid-engine cars."
The statement confirms work has begun "to lay the foundations for the success of the team, the development of the cars and the building of the brand globally". This is despite the whole sport coming to a halt during the coronavirus pandemic, allowing a number of teams to join the effort to develop and build hospital ventilators.
Racing Point released a Q&A with Lawrence Stroll discussing the Aston deal and its future in F1.
Q&A with Lawrence Stroll
Events have developed quickly over the last few months, but you must be delighted to have officially completed the process.
“The process of investing in this wonderful car brand has required all of my attention and energy for a number of months. There were certainly some sleepless nights. At the same time, it has been one of the most exciting deals in which I’ve ever been involved. Cars are my passion, a huge part of my life, and Aston Martin has always had a special place in my heart.
"To stand here today and announce that the agreement is finalised is a huge privilege and one of the proudest moments of my career. With all the paperwork completed, I can focus my attention on implementing the strategy to make this fantastic brand even more successful in the years ahead.”
Formula 1 is an important part of the strategy and you have confirmed the Racing Point team will be known as Aston Martin F1 Team from 2021.
“A brand with the pedigree and history of Aston Martin needs to be competing at the highest level of motorsport. I think it’s the most exciting thing that’s happened in recent memory in Formula 1 and it’s incredibly exciting for all stakeholders in the sport, especially the fans. I can’t think of a better name for a Formula 1 team.