Wolff buys shares in Aston Martin

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Wolff buys shares in Aston Martin

Formula 1

Wolff buys shares in Aston Martin

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Mercedes team principal Toto Wolff has bought shares in Aston Martin ahead of the British sports car brand’s return to Formula 1.

Documents revealed Wolff has purchased a 4.77% stake in Aston Martin Lagonda, although that will be diluted to just under 1% by a rights issue on Monday. Wolff is close friends with new Aston Martin executive chairman and Racing Point owner Lawrence Stroll (pictured at left, above, with Wolff), and Wolff’s investment is described as a personal one.

“Fully diluted following the pending rights issue, this investment will represent a 0.95% stake in the company,” a Mercedes spokesperson said. “It is a financial investment and Toto’s partnership and executive role with Mercedes are unaffected by the transaction.”

Racing Point already enjoys a close relationship with Mercedes, buying its power unit and gearbox — among other parts — from the team that has dominated F1 since 2014. Racing Point will become the Aston Martin works team next year as part of Stroll’s involvement with both companies.

While Wolff — who owns 30% of the Mercedes team — previously had a 16% stake in Williams that he sold, his investment in Aston Martin joins him with Mercedes-Benz parent company Daimler, which has had a small shareholding in Aston for some time.

Wolff’s own future in F1 has been the center of speculation for a number of months, as the Austrian was linked with both Chase Carey’s role as CEO and chairman of the sport as well as a greater involvement with Stroll at Aston Martin. However, he told Austrian broadcaster ORF last month that “an operational role on my part at Aston Martin is definitely out of the question.”

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