Stroll: 'I should be knighted for saving Aston Martin'

40

Lawrence Stroll believes he deserves a knighthood for saving the Aston Martin automotive company and for bringing jobs to his Silverstone-based F1 team.

In January 2020, Stroll put together a consortium of investors that rescued Aston Martin Lagonda from years of hardship, a move that also led to Stroll rebranding his Racing Point F1 team Aston Martin F1.

Steering the prestigious sports car manufacturer back onto a path of profitability has been a difficult challenge for the automotive company's Executive Chairman, one that has required several influx of fresh capital, either through debt or equity raises.

The company's losses more than doubled during 2022 as Aston Martin spent heavily on new models and struggled through supply chain problems hitting the global car industry.

Parallel to Stroll's road car endeavor, the Canadian billionaire and his co-investors have also significantly invested in their F1 team by upgrading the outfit's infrastructure and building a new state of the art factory on its Silverstone campus.

Read also:

Jordan and Coulthard: Is time running out for Lance Stroll?

Overall, the 63-year-old businessman believes his efforts deserve more credit.

"I should be knighted for what I’ve done. I’ve saved thousands of jobs and built a new Formula 1 factory with hundreds of millions of investment," Stroll told the media on Monday ahead Aston Martin Lagonda's capital markets day.

Stroll put a £1.5 billion number ($2.16 billion) on the total capital invested in Aston, a testimony to his belief in the company's future success.

"The investment is staggering," he said. And is a huge show of my belief in the company… One doesn’t put that money into a business they don’t believe in the future of."

Assessing the firm's long-term prospects, Stroll said that "in my other businesses, I’ve won", and the Canadian fashion mogul expects to repeat his success with Aston Martin.

As for Formula 1, Aston is enjoying a remarkable year out on the race track, thanks to step forward taken by the team this season.

Ahead of this weekend's Austrian Grand Prix, the tenth round of the 2023 F1 World Championship, Aston current sits third in the Constructors' standings, having enjoyed so far six podium finishes thanks to Fernando Alonso.

Keep up to date with all the F1 news via Facebook and Twitter

Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.