New York Jets owner Woody Johnson acquires stake in F1 team Aston Martin
Summary
Woody Johnson, owner of the New York Jets, has bought a small share of the Aston Martin Formula 1 racing team. He will join Aston Martin’s board as vice chairman and help with business growth, especially in the United States, but will not manage daily operations.Key Facts
- Woody Johnson owns the NFL team New York Jets and a part of the Premier League soccer club Crystal Palace.
- He bought a minority stake in the British Formula 1 team Aston Martin.
- Johnson will focus on expanding Aston Martin’s business, particularly in the U.S.
- He becomes vice chairman on Aston Martin’s board of directors.
- Johnson will not handle day-to-day management of the racing team.
- Lawrence Stroll, Aston Martin’s executive chairman, will keep controlling the company.
- Johnson was U.S. ambassador to the U.K. during President Donald Trump’s first term.
- Johnson and Stroll both want to increase Formula 1’s fanbase in the United States.
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