Wolff: Value of privateers will rise

Christian 'Toto' Wolff, the businessman and financial manager from Vienna who has bought a minority stake in the Williams team, says his decision is purely commercial

Wolff: Value of privateers will rise

The 37-year-old, a part-time racer and rally driver, purchased a stake in the team that will see him own between "10 and 49 per cent" of the Grove-based squad.

"My investment in Williams is a pure strategic decision," said Wolff, who has been involved in the management of upcoming racing drivers and co-owns a management company with former world champion Mika Hakkinen.

"With recent pull-outs of manufacturers from F1 the value of privateer teams will increase. Overall, I expect the value of F1 to rise again. Therefore this is a commercial decision," added the Austrian, who speaks five languages.

"I met with Sir Frank and Patrick (Head) in May for the first time. None approached the other side deliberately, we just got together and started talking. Soon we realised to share opinions and agreed on the way we would go.

"I have full respect for the racer attitude in the team and the work of Adam (Parr) and Sam (Michael)", Wolff added.

"Because of contractual clauses I cannot reveal my share, but it is over 10 and below 49 per cent."

As a minority shareholder, Wolff will be involved in all strategic decisions in the future.

His shareholding in HWA, the Mercedes arm in the DTM championship, will not be affected by any means by his new involvement, Wolff said.

The 2006 Austrian rally championship runner-up is the current record holder of the Nordschleife circuit and won the Dubai 24 Hours three years ago.

In 2004, he drove alongside Karl Wendlinger in the FIA GT championship and is engaged to Mercedes DTM driver Susie Stoddart.

shares
comments
Q & A with Frank Williams
Previous article

Q & A with Frank Williams

Next article

Mark Hughes' top 10 F1 drivers of 2009

Mark Hughes' top 10 F1 drivers of 2009
How Red Bull's dynamic leader shaped its F1 philosophy Plus

How Red Bull's dynamic leader shaped its F1 philosophy

The death of Dietrich Mateschitz last month has not only deprived Red Bull of its visionary founder, it has shorn Formula 1 of one of its most influential benefactors. Mateschitz himself was famously media-shy, preferring to let the brand do the talking on his behalf. And, while it’s now normal to speak of Red Bull F1 titles and champions made, Mateschitz never assumed it would be easy or even possible – as ANTHONY ROWLINSON discovered during this previously unpublished interview from 2006…

Can Mercedes break Formula 1's cycle of doom? Plus

Can Mercedes break Formula 1's cycle of doom?

OPINION: Teams that have dominated for long periods throughout Formula 1's history often take years to get back to the top of the tree once they've slipped down. But it remains to be seen whether the same will happen to Mercedes after a challenging 2022 season

Formula 1
Nov 24, 2022
What hurt Perez most in his ill-fated fight for second in Abu Dhabi Plus

What hurt Perez most in his ill-fated fight for second in Abu Dhabi

Arguably the favourite in the battle to finish second best in 2022's Formula 1 standings, Sergio Perez's two-stop strategy at Abu Dhabi couldn't take him ahead of Charles Leclerc when the music stopped - and several key factors ultimately precluded him from the much-coveted runner-up spot

Formula 1
Nov 23, 2022
The Abu Dhabi momentum that can propel Leclerc and Ferrari to F1 2023 success Plus

The Abu Dhabi momentum that can propel Leclerc and Ferrari to F1 2023 success

OPINION: Charles Leclerc achieved his target of sealing runner-up in the 2022 world championship with a masterful drive behind Max Verstappen in Abu Dhabi. And that race contained key elements that may help him, and Ferrari, go one better in Formula 1 2023

Formula 1
Nov 22, 2022
How Verstappen's record-breaking 2022 season compares to the F1 greats Plus

How Verstappen's record-breaking 2022 season compares to the F1 greats

The 2022 Formula 1 season will be remembered as a record book rewriting Max Verstappen masterclass, a completely different challenge to his maiden world championship last year, and a clear sign he is still raising his own level. But where does it stack up against the all-time great F1 campaigns?

Formula 1
Nov 22, 2022
Abu Dhabi Grand Prix Driver Ratings Plus

Abu Dhabi Grand Prix Driver Ratings

The 2022 Formula 1 season came to a close at the Yas Marina Circuit, where the battle for second in the standings was decided, the wins in a season record extended and a retiring four-time world champion bowed out on a high. Here's how we rated the drivers

Formula 1
Nov 21, 2022
The factors that stopped Perez catching Leclerc in Verstappen's Abu Dhabi triumph Plus

The factors that stopped Perez catching Leclerc in Verstappen's Abu Dhabi triumph

Max Verstappen ended the 2022 Formula 1 season in fitting fashion with a dominant drive to victory in the Abu Dhabi Grand Prix. But behind him, early season rival Charles Leclerc achieved his target of securing the runner-up spot with a well-executed a one-stop strategy to beat Sergio Perez, whose pursuit on a two-stop strategy was hampered by several critical factors

Formula 1
Nov 21, 2022
Why the impact of FIA’s anti-bouncing metric is hard to judge Plus

Why the impact of FIA’s anti-bouncing metric is hard to judge

Faced with drivers complaining about the long-term health effects of car ‘bouncing’, the FIA stepped in to deal with it. JAKE BOXALL-LEGGE explains how the so-called ‘Aerodynamic Oscillation Metric’ works, and asks if it is fit for purpose?

Formula 1
Nov 20, 2022