(Finance) – Arctos Sports Partnersa private equity platform dedicated to the professional sports sector, has entered into an agreement to acquire a minority stake in AMR Holdings GPthe holding company of Aston Martin’s F1 team.
The agreement, announced on the eve of the Las Vegas Grand Prix, “confirms the growing appeal” of the Aston Martin Aramco Cognizant Formula One Team in “a unprecedented period of growth and popularity of Formula One especially in the United States“, we read in a note.
The investment in Aston Martin Aramco Cognizant Formula One Team is expected to close by the end of the year. Financial details were not disclosed of the agreement.
“This investment is consistent with our company’s strategy to focus on supporting leading sports brands across North America and Europe,” commented Doc O’Connor, Managing Partner of Arctos Partners.