Jul.9 (GMM/Inautonews.com) Lawrence Stroll has a EUR 120 million cheque to spend on a formula one team, Italy’s Autosprint claims.

Days ago, it was rumoured that the Canadian billionaire’s 16-year-old son Lance, already a Ferrari academy driver, is lining up a Williams contract for 2017.

Undoubtedly, his father’s wealth and influence is helping.

Autosprint said Lawrence Stroll, a fashion mogul, was earlier interested in buying Sauber but has now turned his attention to Grove based Williams.

The billionaire has also been linked with buying into F1’s commercial rights.

But Bernie Ecclestone, who runs the sport for its current owner CVC, says not just anyone will be handed the keys to F1.

“I will tell you how much trouble F1 is in,” the 85-year-old Briton told the Sunday Times. “Right now we have three parties who are seriously interested in buying.”