Aston Martin sale almost a done deal, Prodrive founder in the lead
Coming out of Geneva along with the exodus of automotive journalists are reports that a sale of Aston Martin is imminent, and that the likely winning bid has come from a consortium headed by Prodrive founder David Richards. The expected bid is rumored to be around $965,800,000 (£500,000), or about half of what Ford Motor Co. was hoping to get for its most premium of brands. Ford is expected to retain an interest in Aston Martin since it's still the brand's number one supplier of parts, and current chief Ulrich Benz, who himself submitted a bid to own the brand he runs, should remain in his position for the time being.
Despite the lower than hoped for selling price, Ford is reportedly pleased to have found a new owner with experience in the auto biz and an already-established connection to the Aston Martin brand. Prodrive runs Aston Martin's racing team and has been connected with the automaker in one way or another for many years, so the purchase indeed seems like a good fit. We'll let you know when word comes that the sale is final, which is expected before the end of the week.
[Source: Daily Telegraph via GMInsideNews]
Reader Comments (Page 1 of 1)
Sharpe 2:07PM (3/08/2007)
You may want to check your GBP conversion. You're missing some zeros there.
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k 2:27PM (3/08/2007)
I though Ford had hoped to sell it for 1 billion. So it looks like they got what they wanted
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oren 2:46PM (3/08/2007)
What a deal, do you get 0.9% financing?
http://www.montrealvip.com/montrealgrandprix.html
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roGer 3:17PM (3/08/2007)
I wonder if Prodrive's F1 entry will be an Aston Martin entry next year then?
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Rick Lyon 3:56PM (3/08/2007)
'What do you mean it's not centered?'
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Kwyjibo 3:30PM (3/08/2007)
I think Ford might be SOL...Richards is probably smart enough to stop using their craptastic parts.
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Jules Mounteer 4:38PM (3/08/2007)
I think roGer has it right. Aston Martin badging on Prodrive's F1 team makes total sense.
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Bryan 3:45PM (3/08/2007)
So sad..why Ford? Aston had the most pretige of any company in PAG. I hope that money goes to good use.
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Dave 5:33PM (3/08/2007)
i should think that $965,800,000 is a bit more than the £500,000 which is stated in the article. It's more like £500,000,000
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Matt Dell 8:32PM (3/08/2007)
David Richards / Prodrive is the BEST thing that could happen to Aston Martin!
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Ashley Allen 4:45AM (3/09/2007)
Since Prodrive are entering F1 in 2008, do you think they might use the Aston Badge?
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Felix 4:01AM (3/12/2007)
If this is final this is great!! Prodrive has done a lot of good for the different brands they have been associated with except maybe volvo but thats probably more volvo's fault. Yes I agree Aston wil be the new Prodrive F1 team and That HOPEFULLY in the long term will do for Aston what ferrari F1 has done for it. Make the myth a real and living legend. The only cloud would be if Richards and Betz cannot co-exist because then Aston will loose momentum once again and dwindel into just the myth once and for all.
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