Racing Point F1 team to become Aston Martin in 2021

FILE PHOTO: Formula One F1 - Singapore Grand Prix - Marina Bay Street Circuit, Singapore - September 20, 2019 Racing Point's Lance Stroll during practice. REUTERS/Tim Chong/File Photo

LONDON (Reuters) - Racing Point will become the Aston Martin factory Formula One team from 2021 after their Canadian billionaire owner Lawrence Stroll bought a stake in the ailing British sportscar maker on Friday.

The deal means Aston Martin's title sponsorship of former world champions Red Bull, who use Honda engines, will end after the current season.