Too Wolff claims he sold his Williams shares before they came back to him uninvitingly. He only wishes to sell them.
Toto Wolff has spoken about his five percent existing share on Williams F1 team, even though he sold them before making a move to Mercedes in 2013.
The Mercedes boss said that he had 15% shares which he sold but received 5% back, owning them till date.
He reiterated the case of the returned Williams shares, “To clarify: I sold the Williams shares but I got them back because they were held in escrow and the last payment defaulted.
“It’s not something that I wanted and I made it clear with Mercedes that my main priority with those shares is to sell them. The process that has been started by Claire and the team is something that I really appreciate because it allows me to sell those shares,” insisted the 48-year-old Austrian.
Claire Williams clarified last month, “Toto, as everybody knows bought a shareholding a long time back now, back in 2009, from Frank [Williams] and Patrick [Head].
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“Brad Hollinger, who is one of our minority shareholders at Williams and a non-exec director, bought the majority of those shares from Toto, but has not completed on that remaining 5%, so they have returned to Toto’s hands,” confirmed the deputy team boss.
Toto Wolff entrepreneur in Formula 1
Apart from being a top notch team principal, Wolff has a mind of a businessman, with him holding stakes at several establishments.
Upon joining he acquired 30% of Mercedes-Benz Grand Prix Ltd, with a further 10% held by Niki Lauda and 60% by Daimler.
Whereas, he also has stakes in Aston Martin along with Lawrence Stroll, which will debut next season replacing Racing Point.
The team will probably lineup Lance Stroll and Sebastian Vettel on the grid and Sergio Perez might face the axe in the process.