Aramco Becomes Exclusive Sponsor of Aston Martin Team

Saudi Aramco, the giant oil company, and the Aston Martin team competing in the Formula 1 World Championship announced today, Thursday, the signing of a new five-year agreement under which the Saudi company will become the official exclusive sponsor of Aston Martin starting from next season. Previously, the IT company Cognizant, based in the United States, sponsored Aston Martin in partnership with Aramco. However, the team will officially be named Aston Martin Aramco starting in January, with Cognizant remaining a strategic partner. The Saudi Public Investment Fund recently increased its stake in the British luxury car manufacturer Aston Martin to 20.5%. Aramco is also a global partner of Formula 1 and the main sponsor of several races. The Canadian billionaire Lawrence Stroll owns the team and is the chairman and largest shareholder of the separate car company. Stroll stated in a press release, "We already have an important strategic relationship (with Aramco), and their support as a partner for the next five years is clear evidence of our shared ambition." He added, "They have played a key role since 2022 in Aston Martin's journey in Formula 1, and their contribution will become even more significant in the coming years." Aston Martin finished last season in fifth place in the overall standings, led by drivers Fernando Alonso and Lance Stroll. The team will switch from Mercedes engines to Honda engines starting in 2026.