Racing Point are set to become the Aston Martin works team for the 2021 Formula 1 season, following a significant investment into the iconic British automobile brand by a consortium led by Racing Point’s current owner, Lawrence Stroll.

The £182 million investment from Stroll’s consortium sees them take a 16.7% stake in Aston Martin, with Racing Point then slated for a re-brand ahead of the start of F1’s ground-breaking 2021 season. Stroll will also become Aston Martin’s Executive Chairman.

ANALYSIS: Why Aston Martin-Racing Point deal makes sense for all concerned

The move comes 18 months after Stroll’s consortium took control of the struggling Force India squad, with the team eventually becoming Racing Point at the start of the 2019 season. Racing Point, whose driver line-up includes Stroll’s 21-year-old son Lance alongside Sergio Perez, are set to launch their 2020 campaign on February 17 in Mondsee, Austria, ahead of the start of winter testing at the Circuit de Catalunya near Barcelona on February 19.