Aston Martin has sold a minority stake in its Formula 1 team to US billionaire Robert Wood Johnson, who joins the board of directors as vice chairman.
Johnson, an heir of the Johnson & Johnson pharmaceutical empire, also owns the New York Jets NFL team and acquired a major stake in Premier League football team Crystal Palace last year.
The 79-year-old is a long-time donor of US president Donald Trump, and served as US ambassador to the UK between 2017 and 2021 following Trump’s election.
Johnson has now been brought in by Aston owner Lawrence Stroll to advance the Silverstone team’s commercial growth in the US, which is an important market for the series. The team stressed Johnson would not be involved in the team’s daily management.
“During my time as US Ambassador to the United Kingdom, I have developed a deep appreciation for Aston Martin’s rich history, as well as Lawrence Stroll’s strategic vision and entrepreneurial spirit,” Johnson said.
“I am excited to partner with him and contribute to the continued development of the team, with the ambition of building an organisation capable of competing at the very highest level of the sport.
Lance Stroll, Aston Martin Racing
Photo by: Andy Hone/ LAT Images via Getty Images
“We also share a commitment to growing the fanbase in the United States and introducing even more fans to the excitement of Formula 1.”
Stroll added: “I am extremely happy to welcome Woody to the Aston Martin family. His experience, passion and investment further strengthen our position as we enter the next phase of our competitive journey.
“His deep appreciation for our brand, combined with his commitment to innovation and commercial opportunity, makes him an ideal partner as we look to the future.”
We want to hear from you!
Let us know what you would like to see from us in the future.
Take our survey
– The Autosport.com Team
Read the full article here
