For several years, Canadian billionaire Lawrence Stroll has been investing substantial amounts into Aston Martin. In 2019, he moved his son, Lance, to the then Racing Point team, with the aim of building a championship-worthy team. However, it was a close call, as Stroll almost invested his money into the Williams team instead. Former team boss Claire Williams still regrets missing out on this collaboration.
The now 25-year-old Lance Stroll made his debut with Williams in 2017. That’s when the Formula 1 world was introduced to his wealthy father, Lawrence Stroll. In 2018, Lawrence purchased the then Racing Point and moved his son to Silverstone. Since then, the team has been rebranded as Aston Martin, with senior Stroll harboring ambitions of winning championships in the future.
Missed Opportunity for Williams
Claire Williams recently admitted that she still laments the missed collaboration with Lawrence Stroll. “I still lose sleep over it,” she said in the Business of Sport podcast. “Lawrence was on our side!” During the period when Stroll was investing in Racing Point, Williams was in financial distress. After the Covid-impacted 2020 season, the team was forced to be taken over by investment group Dorilton Capital.
Financial Struggles and the Impact on Racing
“We were simply out of money, to put it bluntly,” explained Alexander Albon. “For the 2019 season, we had a title sponsor (ROKiT), but when we discussed sponsorship for 2020, the payments that were contractually agreed upon never came in. Fortunately, we found other investors to finance the 2020 season, but due to the pandemic, we still couldn’t race. And if you don’t race, you don’t earn money. That was really the last straw for us.”
Regret Over Selling the Team
Williams was ultimately forced to sell her father’s racing team. “I will never feel happy that we sold the team,” she clarified. “Not a day goes by that I’m not sad that we lost it. Because it wasn’t a decision we made as a family because we were tired of Formula 1. We all wanted to stay. It was such a big part of our lives – I wanted to lead the team and pass it on to my son or my nephews.”
The Team’s Value Today
According to Williams, the team is worth much more today than the amount the family received in 2020. “But that’s beside the point,” she added. “What’s important to me is that we sold the team to good people. People who would take care of the team and protect our legacy. We were very lucky, because in 2020 there were few parties who wanted to buy companies at all, let alone struggling Formula 1 teams.”
