WOODY JOHNSON ACQUIRES STAKE IN ASTON MARTIN F1 TEAM

Woody Johnson, owner of the New York Jets, has acquired a strategic stake in Aston Martin Aramco Formula One Team and will join the team's board as Vice Chairman, according to the team's official announcement. The exact financial figures and percentage size of the stake have not been disclosed. Johnson's investment represents a further diversification of his sports portfolio beyond American football.

Lawrence Stroll, who acquired Aston Martin in 2018, remains the team's Executive Chairman and controlling shareholder with approximately 33 per cent ownership. The Saudi Arabian Public Investment Fund holds 20 per cent of the team, with Johnson now among several other stakeholders. The team stated that Johnson will focus on supporting commercial growth particularly in the United States, but will not undertake any day-to-day management duties.

Johnson, a billionaire and heir to the Johnson & Johnson pharmaceutical fortune, also holds ownership stakes in Crystal Palace Football Club. The team described the investment as demonstrating "the strong appeal and positive momentum of the team at a time of unprecedented growth for Formula 1, particularly in the United States." Johnson's investment is said to be based on his relationship with Stroll.