Formula, about dts
Formula, about dts

Toto Wolff becomes a shareholder in Aston Martin

The team boss and managing director of the Mercedes-AMG Formula 1 team will become a shareholder at Aston Martin, who will take over “Red Bull Racing” as a works team next year. Does Wolff's time with the silver files end now?

For weeks, the rumors about the future of the team boss of the Mercedes-AMG Formula 1 team have been around.

A few weeks ago, Wolff denied a written offer to get started as an investor - now it has been officially confirmed.

Toto Wolff is also active as an investor in addition to his already mentioned activity. He is said to have assets of half a billion euros.

Previously, Wolff was already involved in the Williams F1 team.

"No strategic participation as an investor"

Toto Wolff is said to have secured shares worth £ 37 million, or around € 42 million.

According to a Mercedes spokesman, this should be a financial investment, in which the role at Mercedes remains unaffected.

As Formula1.de reports, Wolff Engagement does not represent a conflict of interest, since the Daimler Group has been supplying engines, electrical components and infotainment systems to Aston Martin since 2013. By the way, with this deal, the portal reports, Daimler has secured a veto right for new investors, so that the group could have prevented Wolff's entry.

It is interesting, however, that the current team boss at Mercedes, i.e.Toto Wolff, has still not signed a contract extension. His contract with Mercedes expires at the end of the season. Wolff, however, recently insured that he would remain with Mercedes, "nothing" would change "short term".