Lawrence Stroll wants to make Racing Point one of the best teams in Formula 1 in the long term, if the sport’s planned structural changes go ahead.
Liberty Media hopes to introduce a cost cap and change the revenue distribution model in F1 as part of the next set of bilateral agreements from 2021 onward. The thinking behind such changes is that they would make for a more level playing field and increase competitiveness, and Stroll — who led a consortium that took over the then Force India team last August — has ambitious targets should they happen.
“Short term, we want to stay fighting where we are,” Stroll told the official F1 website. “Medium term, we want to try and fight for third, instead of fourth. Long term, when all the rules, change, hopefully we will be one of the greatest teams in the paddock.”
Such success would make Racing Point a more valuable outfit, something Stroll says attracted him to the team in the first place given where he sees the sport heading.
“I never planned to buy an F1 team. The reason it interested myself and my consortium of investors was because this is a phenomenally special team. To be fourth in 2016 and 2017 — and last year I think they would have also been fourth without the interruption of the shareholding — in this unbelievably competitive environment speaks volumes about the staff working in this very special place.
“These guys have been spending less and performing better. I looked at it as a business opportunity, coupling that with spending time speaking to F1 to understand their vision from 2021, which is some sort of budget cap and some sort of a better revenue distribution to the smaller teams.
“That makes great business sense for a company like this, as this is the model of direction closer to where the future will go. I’ve been around the sport for 30 years. There’s only 10 teams and if you look at the value of the franchise, whether it be NFL, UK rugby or football, the value of an asset like this, treated properly, cherished over time significantly appreciates. I think the same thing will happen here.”
Racing Point Force India finished the 2018 season in seventh in the constructors’ championship having lost all of its points from before the summer break when it entered administration. The combined total over the year would have been 111 points, good enough for fifth behind Renault on 122.