Racing Point has appointed Jefferson Slack, former CEO at Inmter Milan and commercial advisor to International Basketball Federation (FIBA) and Dorna (MotoGP) as Managing Director - Commercial and Marketing.

The position is a new role in the team and Slack will be responsible for all commercial and marketing activities, reporting into Otmar Szafnauer. The appointment comes ahead of the team's much-anticipated re-launch as the Aston Martin works team for the start of the 2021 season.

Racing Point is enjoying its best-ever season, currently in 4th position in the constructors standings, and its re-brand to become Aston Martin is "set to position the team as one of Formula 1's highest-profile franchises," reads the official press release.

Slack joins the team after a 30-year career across the sports industry. The American sports executive has extensive experience at the highest commercial level of sports. His career began managing Michael Jordan's marketing activities before moving into sports private equity with Hicks, Muse.

In 2000, he became the first American CEO of a top European football club, Inter Milan. He also has a wide range of agency experience, with leadership positions at Wasserman and IMG.

More recently, Slack has been a commercial adviser to FIBA and Dorna, as well as undertaking a number of personal investments in businesses across the sports industry.

He will start his new role as Managing Director, Commercial and Marketing, of Racing Point F1 Team with immediate effect.

"With the progress we have made this season on the track and with our upcoming relaunch as Aston Martin, we have a unique opportunity to create an iconic new sports property that's at the forefront of Formula 1," said Lawrence Stroll. "We are delighted to appoint Jefferson Slack to help us realise the full global commercial and marketing opportunities that lie ahead."

"I am delighted that Jefferson is joining us in the newly created role of Managing Director," added Otmar Szafnauer. "He will be responsible for leading all our commercial and marketing activities as we look to build one of F1's most successful teams, both on and off the track."

"I believe this is one of the most exciting commercial opportunities, not just in Formula 1, but in the whole of the sports industry," said Slack. "We are looking to build an iconic new sports brand in Aston Martin F1 Team, and in the process we believe we will create a unique global marketing platform for other brands and partners. I am looking forward to working with Lawrence and Otmar, and building a world-class commercial and marketing team."