1 week ago
Jets Owner Woody Johnson Buys Minority Stake in Aston Martin
Woody Johnson, who owns the New York Jets, bought part of the Aston Martin Formula One team.
The team did not say how much money he invested.
Johnson will become the team’s vice chairman.
He will not run the team’s daily operations.
Lawrence Stroll will continue to control and manage Aston Martin.
Johnson will mainly help the team grow its business in the United States.
He said he admires Aston Martin’s history and wants to attract more American fans to Formula One.
Johnson previously served as the U.S. ambassador to the United Kingdom.
New York Jets owner Woody Johnson acquired a minority stake in Formula One team Aston Martin.
Aston Martin did not disclose the financial terms of the investment.
Johnson will join the team’s board as vice chairman but will have no day-to-day management role.
His focus will be commercial growth, particularly expanding Aston Martin’s presence in the United States.
Executive chairman and controlling shareholder Lawrence Stroll will retain management and control of the company.
- Who
- New York Jets owner Woody Johnson and Aston Martin executive chairman Lawrence Stroll.
- What
- Johnson acquired a minority stake in Aston Martin’s Formula One team and will become its board vice chairman.
- Where
- The investment concerns Aston Martin’s British Formula One team, with a focus on commercial growth in the United States.
- When
- The announcement date is not specified in the article.
- Why
- Johnson and Aston Martin said they want to expand the team’s commercial opportunities and grow its U.S. fanbase.
Key facts
- Investor
- Woody Johnson, owner of the New York Jets
- Investment
- A minority stake in Aston Martin’s Formula One team
- Financial terms
- Not disclosed
- New role
- Vice chairman of Aston Martin’s board
- Management role
- Johnson will not undertake day-to-day management duties
- Existing control
- Lawrence Stroll will continue to manage and control the company
- Strategic focus
- Commercial growth, especially in the United States
Quotes
Aston Martin executive chairman Lawrence Stroll
Executive chairman and controlling shareholder of Aston Martin F1
“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.”
deccanchronicle.com
Sources
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