Force India’s assets were purchased by Racing Point UK. However, the team’s official F1 entry was not transferable, thereby marking the official end of the entry originating in 1991. The team was renamed Racing Point Force India for the remainder of the 2018 season before becoming Racing Point the next season.
What happened to Force India F1 team?
By 2 August 2018 its assets were purchased by Racing Point UK Limited, a company created by a group of investors led by Lawrence Stroll. The new company created a new constructor with the assets and entered the sport prior to the 2018 Belgian Grand Prix, taking the vacated entry of the original Force India team.
Is Force India now Aston Martin?
The team was renamed in February 2019 from Racing Point Force India F1 Team, which used the constructor name of Force India for the latter half of the 2018 season. … The team has been rebranded to Aston Martin for the 2021 Formula One season.
Is Lawrence Stroll still in F1?
Stroll, the father of driver Lance, bought the team then known as Force India in 2018 and changed their name to Racing Point. They remained Racing Point until the end of the 2020 campaign, in which they won a race and finished P4 in the Constructors’ Championship, before becoming Aston Martin.
Why did Force India Change Name?
F1’s governing body, FIA, confirmed Thursday that the team can continue to compete as the Racing Point Force India team. The name change is because the team had to apply as an entirely new outfit. British-based Force India was excluded from this year’s championship after going into administration last month.
Who tried buying Force India?
The team was formed in October 2007 when a consortium led by Indian businessman Vijay Mallya and Dutch businessman Michiel Mol bought the Spyker F1 team for €88 million.
Does stroll own Aston Martin F1?
However, in January 2020, Lawrence Stroll purchased a 16.7% stake in the British car manufacturer Aston Martin. This led to Racing Point being commercially rebranded as Aston Martin from the 2021 season onwards. Aston Martin’s return was one of the most anticipated events in Formula 1 at the start of this year.
How much did Lawrence Stroll pay for Force India?
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2018, Stroll led a group of investors to buy Formula One racing team Force India for £90 million plus assumption of £15 million in debt. After leading a $235.6 million (£182 million) investment in car company Aston Martin in early 2020, Stroll will become executive chairman.
Did Lance Stroll buy his way into F1?
In recent years, two particular teams that notoriously made headlines for hiring pay drivers were Racing Point and Williams. After Racing Point was purchased by a consortium led by Lawrence Stroll, his son Lance took over one of the team’s seats in 2019.