Mallya says his former team have achieved a "dream" following Aston Martin deal

Vijay Mallya says his old team have achieved a dream by becoming a works team for the 2021 Formula 1 season. After Lawerence Stroll bought a stake in Aston Martin, Racing Point will be renamed to Aston Martin Formula One team in time for the rule and regulation overhaul coming next season.  

A number of name changes

Eddie Jordan formed the original team way back in 1991 and remained on the grid for 250 Grands Prix. Jordan Grand Prix was then renamed to Midland F1 Racing after (another!) Canadian businessman Alex Shnaider made a purchase. This name lasted only 18 races. 

Ahead of the 2007 season, the team was renamed again to Spyker Formula One team before Mallya and Michiel Mol moved in and purchased the team for €88 million. Driver Sergio Perez helped put the team in administration in the middle of the 2018 season. A consortium led by Stroll ended up acquiring the team's assets. 

In between all of these name changes, it appears the team had one goal: to become a works team. 

Aston Martin 

The former owner congratulated new boss Stroll for securing the deal and making the team achieve one of their long-term goals. 

"I am delighted for Lawerence and I'm delighted for the team. To ultimately become a works team was always a dream. Lawerence and I are friends, and in fact, I congratulated him this morning on the news. He's a very astute investor and his track record proves that," Mallya said in an interview with Autosport. 

"If you look at the share price of Aston Martin today, he's obviously made a sweetheart deal. Under his chairmanship and with the new range of models that Aston is planning there's only one way to go, and that's north. For Racing Point it is absolutely fabulous that it will become a works team with support from a great British marque like Aston, with all its heritage. Aston has plenty of followers, and they will all become Racing Point followers as well."