The Racing Point team will become the Aston Martin Formula One team in 2021 after investment from team owner Lawrence Stroll in the iconic British marque.

According to filings with the London Stock Exchange this morning, Stroll has made an investment of £182m into the brand, in return for added influence into the F1 squad.

Photo: Aston Martin Photo: Aston Martin

Stroll bought out the crumbing Force India team in 2017 as part of a consortium of buyers. Since then, the team has remained a strong competitor in the midfield.

Aston Martin have been undergoing financial readjustment for some time now, and in the motorsport world they recently pulled their involvement in the DTM with R-Motorsports as an essential part of cost-cutting.

Despite this the company continues to pursue its plans to enter into the WEC under the new hypercar rules with the Valkyrie.

Photo: Aston Martin Photo: Aston Martin

Based at Silverstone, and already under a British license, the Aston Martin entry in 2021 will end a 61 year gap since the team last raced in F1 in 1960.

Back then, the team entered its first Grand Prix in 1959, going on to start in only five of 11 entries, securing no points.

Aston Martin has, however, been involved in F1 in recent years as a main sponsor to the Red Bull outfit. The partnership between Aston and the four-time constructors champions will come to an end after this season.

With McLaren, and Williams already flying the flag in the F1 paddock, there will be one more option for British fans come 2021…