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Lawrence Stroll targeting third place… and a profit

NEWS STORY
01/12/2018

Having consistently punched well above its weight, there is every reason to believe that with a bit more cash in hand, Force India could have done even better.

However, the financial issues facing the Silverstone-based outfit finally came to a head in the summer and as a result the team was placed in administration.

Step forward Canadian billionaire Lawrence Stroll, who, as head of a consortium of similarly wealthy businessmen and entrepreneurs, bought the ailing team.

The debts paid, the team is currently in the process of a significant restructuring that will include a new factory and increased headcount.

Despite the claims that the team is a real life Scalextric for his son Lance, Stroll, a very successful businessman, insists that he didn't buy Force India for altruistic reasons, but rather another successful business venture.

With the sport's powers-that-be aiming to introduce a budget cap and divide the prize money more evenly, with the intention of levelling the playing field, Stroll believes this will work to his advantage.

"I'm not in this for ego. I'm not in this to lose money," he tells the New York Times. "I'm in this for the long term, as I have been with every other business I've owned, be it Tommy Hilfiger, Michael Kors or whoever.

"It's no secret there's going to be some sort of a budget cap and better cash distribution to the smaller teams," he adds. "That is still to be clarified how well that works out, but there are all the right rumblings, and I've had enough conversations with Chase to understand that is the direction they want and need to take the business. For me, that spells financial opportunity, and looking at 2021 onwards, a profitable business opportunity.

"With the right funding, the right leadership, the right motivation, there's no reason we shouldn't have high expectations and be able to punch even higher above our weight, to hopefully be fighting for that third place," he insists.

A keen F1 fan, Stroll would do well to study the recent history of the sport, for only a few years ago, three new teams entered the sport, encouraged by the promise of budget caps and a more equal playing field... all three have long since disappeared.

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READERS COMMENTS

 

1. Posted by SennaRacer56, 27/12/2018 15:06

"LOL interesting comments here from folk who clearly don't read any financial reports and only focus on the racing ... Williams F1 declared PROFITS for 2018 despite finishing at the bottom of the title barrel. Mercedes made an operating PROFIT, so did Ferrari and every other team on the grid (except Force India)
How do you blokes think F1 teams survive to be on the grid for the next season ?? Glad none of them depend on your "financial skills" LOL"

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2. Posted by Melonfarmer, 26/12/2018 11:04

"Jackie Oliver used to manage to make a (small) profit for the near 20 years he ran Arrows. Funnily enough they disappeared within 7 years after the grand plans of hiring a current World Champion, famed designer, and staff expansion failed to propel them up the grid. Force India's USP was efficiency, Bob Fearnley was their talisman; look at what happened to Stewart when Jaguar took over. It could go either way."

Rating: Negative (-1)     Rate comment: Positive | NegativeReport this comment

3. Posted by NS Biker, 03/12/2018 23:00

"Never seen a race team make a profit ... so much depends on how you define "Profit".
Rest assured that Roger Penske hasn't owned and operated a racing team for the last 50 years and lost money consistently. He was a force when I was a wee lad and still is today.
Stroll will very likely turn a profit, especially when you take into account the advertising and branding component of the business that he can ue for his own purposes, much like Rad Bull, Mercedes, Ferrari etc.
My initial reaction to the goal of 3rd place was ...who is he kidding. Mercedes and Ferrari will undoubtedly be 1 and 2. Red Bull is a shoe-in to round out the top 3 ... but wait ... what power unit is RB running next year? Any stumble on that front and Racing Point and a number of others could easily be fighting over 3rd place. No one is sitting idle over the winter. Everyone will hit the ground running and we get to watch it all. Ain't it GREAT.??"

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4. Posted by meatball, 03/12/2018 19:02

"the best way to make a little money in racing is to start with a lot of money. This guy sounds about as useless as his son. He'll get along well with the new brand of team bosses, Zac Brown can show him the ropes."

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5. Posted by Bill Hopgood, 02/12/2018 17:56

"I actually like the attitude of Stroll the elder as it would be so easy to just plough some dosh in, step back and have logos of the syndicate partners businesses.

Perhaps though there is an underestimation of the other team owners to shoot the sport in the foot.

I wonder if the syndicate also looked at Williams regarding purchase or shareholding?

One thing is for sure going by Williams and McLaren:
Past performance is no guarantee of future success.
"

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6. Posted by F One, 02/12/2018 17:45

"He signed his utterly useless son to drive so he'll get neither. Racing what's the Point to come last in the table in 2019."

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7. Posted by alfsboy, 01/12/2018 20:11

"Stroll feeds off broken businesses.He could finance the whole scene not just a cheap team.ridiculous "

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8. Posted by nonickname, 01/12/2018 16:36

"Stroll senior for stand up comedy career, "

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9. Posted by Greg, 01/12/2018 13:43

"I will second that. Never seen any race team make a profit"

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10. Posted by Redphyve, 01/12/2018 12:50

"Can I be the first to laugh?

MAKE A PROFIT????

lmfao!
"

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