Aston Martin’s Formula One team has sold a minority shareholding in its operation to Arctos Partners, a private investment firm that values the team at over $1.2 billion.
The Aston Martin F1 squad had been wholly owned by Lawrence Stroll — who also has shares in the Aston Martin road company that is a separate entity — but for the first time, he has sold a stake in the team.
Arctos has investments in many sports, including baseball, basketball, soccer and ice hockey, but has now moved into F1 for the first time amid the ongoing surge in interest.
Aston Martin did not share the investment details, but according to the Financial Times, the deal values the team at around £1 billion ($1.24 billion).
“I am delighted to welcome Arctos Partners as a new partner and minority shareholder in the Aston Martin Aramco Cognizant Formula One Team,” said Stroll.
“As investors in several leading sports franchises, Arctos brings deep industry knowledge, and I am thrilled that Aston Martin will be joining such a prestigious portfolio.”
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