Mercedes Formula 1 team boss Toto Wolff has bought a £37 million stake in British sportscar company Aston Martin, though he remains fully committed to his role at Mercedes.
The investment comes after Racing Point owner Lawrence Stroll, a close friend of Wolff, took a 25 per cent stake in Aston Martin, taking up the role of executive chairman and will bring the brand back to F1 next season.
That led to speculation Wolff would consider a management role at the new team, but that has repeatedly been denied.
This week though it was confirmed Wolff acquired a 4.77 per cent stake in the manufacturer for £37m – though this is set to drop to just below 1 per cent following a rights issue next week.
There is no conflict of interest as Mercedes parent company Daimler AG already owns a 5 per cent stake in Aston Martin and has done so for several years.
However questions may rise over the relationship between the two teams with Mercedes supplying engines to Racing Point, which will morph into Aston Martin next year.
Mercedes insists Wolff’s position is unaffected by the ‘transaction’: “Fully diluted following the pending rights issue, this investment will represent a 0.95% stake in the company,” a Mercedes spokesperson commented.
“It is a financial investment and Toto’s partnership and executive role with Mercedes are unaffected by the transaction.”
Wolff himself has also stressed this: “I’m in the eighth year now. I love sports and this team. I am and will remain the head of Mercedes Motorsport and F1 boss, and nothing will change in the short term.”
The Austrian businessman owns a 30 per cent stake in Mercedes-Benz Grand Prix Ltd as well as a controlling stake in HWA AG, which runs Mercedes’ Formula E team.
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