Wolff buys shares in Aston Martin

Mercedes Formula 1 boss Toto Wolff has made a personal investment in Aston Martin, Motorsport.com has learned, but he remains fully committed to his current role at the title-winning team.

Wolff buys shares in Aston Martin

As recently reported, Wolff has been considering a private purchase of Aston Martin shares in the wake of Lawrence Stroll’s recent buy-in.

Stroll is a friend of Wolff's, and his Racing Point team has a close alliance with Mercedes as one of its customer teams.

While Wolff has repeatedly denied that he will take a formal role at the British sportscar manufacturer, amid speculation he could become CEO, buying shares as an investment has long been on the table.

Such an investment would seem unusual considering his role at Mercedes, and given that Aston Martin is primary sponsor of F1 rival Red Bull Racing, but the German car manufacturer’s parent company Daimler is a long term shareholder in Aston Martin, so there is no conflict of interest.

Daimler struck a deal in 2013 to receive what was then 5% of shares (non-voting) in exchange for supplying its next generation of cars with high-performance engines and electronic components.

Daimler is now Aston Martin's largest supplier and, as confirmed in Aston Martin's latest prospectus last week, has had a veto over any future investment partners.

It is understood that Toto has purchased a 4.77% stake in Aston Martin which, following a rights issue that will dilute the investment, will be worth 0.95% of the company next week.

A spokesperson for Mercedes 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 is currently in discussions with Mercedes about extending his contract to remain at the German car manufacturer

While he could change the specifics of his role, it appears almost certain that he will remain on board for the near future.

Speaking to Austrian media recently, Wolff said: “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.

"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."

 

 

 

 

shares
comments
Why F1's furlough debate isn't as clear cut as in football

Previous article

Why F1's furlough debate isn't as clear cut as in football

Next article

Longing for Long Beach

Longing for Long Beach
Load comments

About this article

Series Formula 1
Teams Mercedes , Aston Martin Racing
Author Jonathan Noble
The Barcelona practice times that prove Red Bull has hidden pace Prime

The Barcelona practice times that prove Red Bull has hidden pace

Lewis Hamilton led the way in Friday practice for the 2021 Spanish Grand Prix, but there was one major encouraging sign for Red Bull. However, making good on that gain will require Max Verstappen to avoid repeating a mistake that left him well down the FP2 order...

Formula 1
May 7, 2021
Why McLaren doesn’t doubt Ricciardo can escape his ‘dark’ place Prime

Why McLaren doesn’t doubt Ricciardo can escape his ‘dark’ place

Three points finishes from as many starts represents a decent opening innings on paper, but Daniel Ricciardo has endured a tough start to his McLaren career - only magnified his teammate's excellent form. Yet both he and the team have good reason to expect a turnaround soon.

Formula 1
May 6, 2021
What needs to “change” for Red Bull is ending Verstappen’s errors Prime

What needs to “change” for Red Bull is ending Verstappen’s errors

OPINION: Going up against the dominant force of Mercedes and Lewis Hamilton was always going to demand the best from Red Bull and Max Verstappen. But after making a couple more errors during the Portuguese Grand Prix, the Dutch driver showed there's a small gap he still needs to close in the 2021 Formula 1 title fight.

Formula 1
May 5, 2021
The "subtle" Red Bull upgrades that kept it in the Portugal F1 mix Prime

The "subtle" Red Bull upgrades that kept it in the Portugal F1 mix

Red Bull's Portuguese Grand Prix fortunes were decidedly second best to Mercedes', but the result skews the potential that the team had at Portimao. With a new set of updates, the team looks good going forward into the rest of 2021's spicy F1 competition

Formula 1
May 3, 2021
Portuguese Grand Prix driver ratings Prime

Portuguese Grand Prix driver ratings

The 2021 Portuguese GP will for several drivers go down as a weekend of missed opportunities amid imperfect track conditions that caused struggles with tyre warm-up. But the performances of a select few stood out from the crowd

Formula 1
May 3, 2021
The five key tests Hamilton passed to claim Portugal victory Prime

The five key tests Hamilton passed to claim Portugal victory

Just as he did in 2020, Lewis Hamilton had to come from behind to win the 2021 Portuguese Grand Prix. Only this time there were two rivals he had to pass, among the several challenges he had to overcome, on his way to securing a 97th grand prix victory

Formula 1
May 3, 2021
Imola 1994: Memories from Ayrton Senna’s F1 rivals Prime

Imola 1994: Memories from Ayrton Senna’s F1 rivals

The tragic events of the 1994 San Marino Grand Prix changed Formula 1 forever. Here, 17 of the drivers who took part explain how they coped with the devastating deaths of Roland Ratzenberger and Ayrton Senna.

Formula 1
May 1, 2021
The data that leaves both Red Bull, Mercedes uncertain of supremacy Prime

The data that leaves both Red Bull, Mercedes uncertain of supremacy

Lewis Hamilton topped the crucial FP2 session on Friday as F1 returned to Portugal, but his Mercedes team cannot be sure it has the edge on its Red Bull rivals. As cool temperatures and wind combine with the still-slippery surface to present drivers with quandaries over set-up and tyre warmup, there's still everything to play for come qualifying.

Formula 1
May 1, 2021