Wolff makes personal investment in Aston Martin
Toto Wolff is confident F1 can put on a show in Austria to counter the weirdness.
Mercedes F1 boss Toto Wolff has bought shares in Aston Martin, but he remains committed to the Silver Arrows, Motorsport.com report.
Wolff’s friend Lawrence Stroll recently bought in to Aston Martin, agreeing a deal to transform his Racing Point team to Aston Martin in the process for 2021. Racing Point currently buy their engines from Mercedes.
But previous rumours of Wolff taking on the role of CEO for the Aston Martin company were batted away by the man himself – in the world of Formula 1 Wolff has overseen six consecutive Drivers’ and Constructors’ Championship doubles for Mercedes.
The report states though that Wolff doesn’t plan on becoming involved with the British sportscar manufacturer’s F1 programme.
He has reportedly purchased a 4.77% stake, but a rights issue will dilute it to make it worth 0.95% of the company.
Mercedes’ parent company Daimler is a long-term shareholder in Aston Martin after agreeing a deal in 2013 for 5% of non-voting shares – the shares were in exchange for Daimler to provide Aston Martin’s next generation of cars with electronics and high-performance engines.
A Mercedes spokesperson, as quoted by Motorsport.com, said: “Fully diluted following the pending rights issue, this investment will represent a 0.95% stake in the company.
“It is a financial investment and Toto’s partnership and executive role with Mercedes are unaffected by the transaction.”
Wolff’s contract with Mercedes is up at the end of 2020, as is six-time World Champion Lewis Hamilton’s who is keen to know Wolff’s future before deciding his own.
Don’t be expecting a fairytale double-move for the pair to Aston Martin though, Wolff has said already that his future is with the Silver Arrows.
“I’m in the eighth year now. I love sports and this team. However, I am somewhat surprised by the turn of events over the winter and by the behaviour of individual people,” he told Austrian media previously.
“Of course, this also has to do with my decision on what to do in 2020 and beyond. But I am and will remain the head of Mercedes Motorsport and F1 boss, and nothing will change in the short term.”
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