Racing
© Jonathan Borba
Aston Martin has sold a minority stake in its Formula 1 team to Woody Johnson, bringing the New York Jets owner onto its board as vice chairman in a move aimed squarely at expanding the team’s business in the United States rather than changing its racing management.
The Silverstone-based team said Robert Wood Johnson had acquired a strategic minority stake and joined the board with immediate effect. Aston Martin also stressed that he “will not undertake any day-to-day management duties,” with Lawrence Stroll remaining executive chairman and controlling shareholder.
That makes the significance of the deal largely commercial. Aston Martin said Johnson’s background in major sports investments and his network across the NFL and Premier League could “unlock valuable commercial synergies and opportunities for collaboration across the global sports landscape,” especially in the U.S. market.
Johnson arrives with exactly that profile. He bought the New York Jets for $635 million in 2000 and remains the NFL franchise’s chairman and owner. Last year he also acquired a 43 per cent stake in Crystal Palace, adding Premier League reach to his sports portfolio. He previously served as U.S. ambassador to the United Kingdom from 2017 to 2021.
In the team announcement, Lawrence Stroll, Aston Martin executive chairman, said: “I am extremely happy to welcome Woody to the Aston Martin family. His experience, passion and investment further strengthen our position as we enter the next phase of our competitive journey.” Stroll added that Johnson’s “deep appreciation for our brand, combined with his commitment to innovation and commercial opportunity, makes him an ideal partner as we look to the future.”
Johnson tied the investment to a broader plan to build the team’s reach as well as its competitiveness. “During my time as U.S. Ambassador to the United Kingdom, I have developed a deep appreciation for Aston Martin's rich history, as well as Lawrence Stroll's strategic vision and entrepreneurial spirit,” he said. He added: “We also share a commitment to growing the fanbase in the United States and introducing even more fans to the excitement of Formula 1.”
The timing is notable because Aston Martin has made the announcement during a difficult spell on track. One summary of the team’s position said it is 10th in the constructors’ championship after a poor first half of the season, putting a sharp contrast on a deal designed to strengthen the project off the circuit while Stroll keeps control of its sporting operation.
For Aston Martin, that leaves Johnson’s arrival as a bet that stronger commercial weight in the United States can help reinforce the next phase of its F1 project even as the team tries to recover competitively.