The announcement that formalized the agreement between Adrian Newey and Aston Martin of the unprecedented offered little. That little, however, is an important step. Among the usual phrases of circumstance is the real news: “Newey will serve as Managing Technical Partner and will become a shareholder of the Aston Martin Aramco Formula One Team”.
As is now standard practice, the length of the agreement was not disclosed, but Newey’s entry into the club’s ownership structure creates a very different scenario from a traditional deal between a club and a high-profile manager.
Newey has long considered the last deal of his professional career. Next December he will turn sixty-six, and in the months he has given himself to evaluate the numerous proposals received, he has put everything on the table, aware that he will have to choose his ‘last dance’. Lawrence Stroll to hit the target by focusing on two factors, namely a project that is about to take off with a structure and top-level partners, and the possibility of offering an equity stake in the team.
Adrian Newey, Aston Martin Formula One Team
Photo by: Aston Martin Racing
As a seasoned businessman, Stroll brought home the deal and guaranteed Newey’s presence for a very long time, effectively having a new equity partner. For ‘Genius’ it is the crowning achievement of a career that has led him to own a slice (it is not known how large) of a Formula 1 team. There is a precedent, namely the historic technical director of Williams Patrick Head, a shareholder of the team for over thirty years.
Some have seen this as a way to circumvent the constraints imposed by the budget cap, hypothesizing that a share exchange could exploit a gray area of the financial regulation. However, Newey’s figure should undoubtedly be one of the three highest paid on the team, i.e. free from the limits of the budget cap.
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