F1 News
Remarkable: Wolff becomes an investor in Aston Martin after all
- GPblog.com
Last month there were a lot of rumours that Toto Wolff might leave as team boss of Mercedes and head to the Aston Martin of friend Lawrence Stroll. Wolff denied this in all keys, but in the meantime the Austrian has bought shares in the Aston Martin brand.
That news has now been officially confirmed, and The Daily Mail also thinks it knows how much money the investment will involve. According to the British medium it would involve an amount of more than 42 million euros. The news is quite a surprise, because not so long ago Wolff indicated that he would not make a 'strategic investment' in Aston Martin.
That's why Wolff's interest in the British brand is now called a 'personal investment'. A quick calculation shows that Wolff has acquired options for a total volume of 4.77 percent of the shares of Aston Martin. After a rights issue, that investment will be partly diluted. A Mercedes spokesman says: "Fully diluted following the pending rights issue, this investment will represent a 0.95% stake in the company."
Mercedes approves investment Wolff
The investment of Wolff has been approved by Mercedes and the world champion in Formula 1 is also not afraid one of departure of the 48-year-old chief.
“It is a financial investment and Toto's partnership and executive role with Mercedes are unaffected by the transaction."
Next year, Racing Point will be on the Formula 1 grid as the Aston Martin F1 Team. Conflicts of interest seem to be lurking, but at Mercedes they're apparently not afraid of that.