It's official: Aston Martin sold to consortium led by Prodrive boss David Richards

David Richards is the founder and chairman of Prodrive, the company responsible for Aston Martin’s racing program as well as developing performance packages for its cars. Prodrive is also rumoured to be in the process of starting its own Formula One team, and this latest announcement is a major step towards seeing Aston Martin competing with the likes of Ferrari and McLaren in the pinnacle of motorsport.

With the backing of Richards and the new investment group and with Dr Ulrich Bez remaining as the CEO, Aston Martin is now under the guidance of two leaders that are equally passionate about realising the brand’s full potential. As part of the deal, Ford will retain a £40 million stake in the company.