ABU DHABI (Reuters) - The Williams Formula One team have signed Canadian teenager Lance Stroll, whose billionaire father Lawrence made a fortune with fashion brands Michael Kors and Tommy Hilfiger, to their young driver development program.
Stroll, who turned 17 last month, will compete in European Formula Three next season.
Williams said in a statement that he would be "fully immersed" into the team next year in the same way that current race driver Valtteri Bottas was when he first joined in a development role in 2011.
"We have identified Lance as a promising talent for the future and we are happy to provide our support to his development as a driver," said deputy principal Claire Williams.
Stroll, a former member of the Ferrari driver academy, said his future was with Williams.
Swiss-based Lawrence Stroll has a net worth of $2.4 billion, according to forbes.com, and is a keen collector of vintage Ferraris.
(Reporting by Alan Baldwin, editing by Tony Jimenez)