Canadian billionaire Lawrence Stroll and the rest of the owners of the Aston Martin Formula 1 team have bought a piece of land near the Silverstone Grand Prix Circuit where the team plans to build a new factory.
The multi-million pound land contract was recently signed, according to UK company Business Live. The land was sold to the Aston Martin F1 Team by farmer and landowner Steve Tustian.
“We’re making progress,” said team boss Otmar Szafnauer in a statement. “We are in the drafting phase now and all departments are getting their contributions to make sure it is as efficient as possible. It is online and is scheduled to open and launch in August 2022.”
The team’s current factory is in Silverstone, but when he and a group of investors bought the team, Stroll said they would be investing in a new facility.
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“The property, now owned by the Aston Martin team, is ideal for his plans to develop his base on the legendary circuit with a new state-of-the-art factory,” said Alastair Frew, head of the business property team for UK law firm Lodders.
Interestingly, this isn’t the first time Tustian has sold land to an F1 team.
“This is the second property that Mr. Tustian has sold to a motorsport company in Silverstone. He sold the first property to Eddie Jordan in 1990, and that location is now the center of the new Aston Martin facility,” he told Frew.
Indeed, Jordan, which Michael Schumacher made his Formula 1 debut with, would eventually become the Aston Martin F1 team through a long string of sales.
Previously known as Force India and then Racing Point, the team has long been considered less funded than its immediate rivals and has earned a reputation for beating above its weight. Stroll’s investment promises to provide enough budget to further improve performance.
However, the opening round of the 2021 season did not go smoothly. The first race as Aston Martin Formula 1 team ended with only one point for Lance Stroll and no points for four-time world champion Sebastian Vettel, who finished in 15th place.
With new tech regulations slated to enter the sport next year, many teams are waiting for their time to improve their lot next year.
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