Aston Martin to axe hundreds of jobs as profit plummets Transport & Infrastructure Aston Martin is poised to cull its workforce by around a fifth after the firm’s bottom line took a beating from President Donald Trump’s erratic tariff agenda. The British manufacturer said on Wednesday it had recognised a provision of £18.7m in relation to expected restructuring costs as it consults on chopping 20 per cent of [...]
F1 to rival NBA and NFL teams valuations, predicts Aston Martin chief Sport Business Formula 1 teams are on course to rival top US sports franchises as the most expensive in the world following a boom in valuations, says Aston Martin F1’s commercial chief Jefferson Slack. This month’s sale of a minority stake in Mercedes F1 valued the team at $6bn (£4.6bn), while McLaren were valued at around $5bn [...]
Aston Martin F1 loses £190m in five years Sport Business Aston Martin F1’s most recent loss of £46m has pushed their cumulative five-year deficit to £190m. The Lawrence Stroll-owned Formula 1 team saw revenue rise by 16 per cent for the financial year to 31 December 2024 while cost of sales also rose. But the pit garage housing both Fernando Alonso and Stroll’s son Lance [...]
‘Heat hazard’ rules invoked for Formula 1 Singapore Grand Prix October 2, 2025 Formula 1 chiefs have designated this week’s Singapore Grand Prix the first “heat hazard” race under new rules designed to protect drivers’ wellbeing. Temperatures for Sunday’s race at Marina Bay are expected to exceed 31C which, combined with the tropical humidity, has triggered the measures. It means that teams will be required to fit all [...]
Aston Martin: F1 team stake up for sale as Stroll set to boost holding March 31, 2025 Aston Martin is at risk of a takeover from Canadian billionaire Lawrence Stroll as he looks increase his stake in the car manufacturer by £52.5m. Stroll’s Yew Tree Consortium is attempting to acquire 75m shares in Aston Martin at a seven per cent premium, bringing his ownership of the car manufacturer to 33 per cent. [...]
Rosberg warns Aston Martin F1 team not to become PSG October 10, 2024 Former F1 champion Nico Rosberg has warned Aston Martin not to turn into Paris Saint-Germain in their pursuit of racing success. The German likened the hiring of design guru Adrian Newey, reportedly for £30m per season, and others to the Parisian Ligue 1 club having Lionel Messi, Neymar and Kylian Mbappe on their books at [...]
Aston Martin door open for Max Verstappen move September 12, 2024 The door is open for Max Verstappen to join Aston Martin, according to team principal Mike Krack, after the Formula 1 team signed Adrian Newey from Red Bull. The design guru turned down opportunities at Mercedes, Ferrari and McLaren to join Lawrence Stroll, Lance Stroll and Fernando Alonso at their Silverstone base. But the Formula [...]
Design guru Newey vows to turn Aston Martin into Formula 1 champions September 10, 2024 Former Red Bull designer Adrian Newey has vowed to deliver Aston Martin’s first ever Formula 1 world championship after confirming his move to the historic British marque. Newey, 65, has agreed to join the Silverstone-based outfit as managing technical partner on a long-term contract worth up to £30m a year which also includes equity in [...]
Adrian Newey, £30m deal at Aston Martin F1 and why he’s worth it September 9, 2024 With Aston Martin set to announce Adrian Newey’s arrival at the Formula 1 outfit, City A.M. asked paddock insiders whether he was worth his reported £30m package. When you think of glitz, glamour and extortionate amounts of cash in sport Formula 1 is never too far away. The travelling circus is a commercial juggernaut worth [...]
Aston Martin F1 set to sell large minority stake to US firm and Silicon Valley giant September 8, 2024 A deal to sell a large minority stake in Aston Martin could be announced soon in a move that could value the Formula 1 team at over £1.5bn. First reported by Mark Kleinman for Sky News, the deal is set to see Accel and HPS Investment Partners acquire between 20 and 25 per cent of [...]