Lawrence Stroll, the Canadian billionaire and owner of the Racing Point Formula One team, is reportedly preparing to purchase large percentage of Aston Martin.
Stroll, who is estimated to be worth US$2.6 billion ($3.8 billion) by Forbes, made his fortune by investing in and building up many well-known fashion brands, including Pierre Cardin, Ralph Lauren, Tommy Hilfiger and Michael Kors.
He currently owns the Circuit Mont-Tremblant race track in his native Quebec, and purchased the Force India F1 team in 2018, rebranding it as Racing Point. His son, Lance, currently drives for Racing Point.
It's understood Stroll is keen to use the Aston Martin name for his racing outfit. Both Stroll's team and some Aston Martin production cars use engines sourced from Mercedes-Benz.
Should this take place, it's not clear what effect it will have on Aston Martin's relationship with Red Bull. The automaker is currently the title sponsor for Red Bull's F1 team, and is working with the beverage manufacturer on the Valhalla and Valkyrie hypercars.
Neither Stroll or Aston Martin have commented on the reports.
Thanks to a fall in demand from China, as well as costs associated with developing the DBX, Aston Martin has recently posted an £80 million ($152 million) loss for the first half of the year, and took on an extra £120m ($229 million) of debt at the eye-watering interest rate of 12 per cent.
As a consequence the automaker's shares have fallen from its listing price of £19 ($36.20) to just below £4 ($7.60).