Aston Martin still racing towards F1

Aston Martin is still racing towards Formula 1.

Before the global pandemic struck, the troubled British carmaker and Red Bull title sponsor was rescued by a group headed by billionaire Racing Point team owner Lawrence Stroll.

Throughout that time, rumours of a tie-up with current Mercedes boss Toto Wolff have been rampant.

"As far as I know, Wolff decided long ago to leave Mercedes and join with Stroll at Aston Martin," former F1 supremo Bernie Ecclestone said last week.

Wolff denied that he is lining up the CEO role at Aston Martin.

And indeed, after a meeting on Monday to discuss a further rescue plan, it was decided that it will in fact be Stroll becoming CEO from April 20.

"This gives the necessary stability to reset the business for its long-term future," Stroll, whose son Lawrence drives for Racing Point, said.

"We have a clear plan to make this happen, including Aston Martin entering a F1 works team next season. I look forward to working with the management team to deliver this program," he added.