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Mercedes boss Wolff acquires stake in Aston Martin

Mercedes F1 Team Boss Toto Wolff

Regulatory documents released by Aston Martin Lagonda have disclosed that Toto Wolff, the head of the Mercedes Formula One team, now owns a 4.77-per-cent stake in the UK sports car manufacturer.

Wolff has invested £37m (€42.4m/$46.1m) in the stake in Aston Martin, which is entering Formula One next year via a partnership with the Racing Point F1 Team. Wolff says he remains fully committed to his role at Mercedes.

Wolff’s Aston Martin stake will be diluted to 0.95 per cent today, following a rights issue by the manufacturer as it raises capital in an effort to turn its fortunes around.

Wolff joins another F1 team principal as a shareholder in Aston Martin. In January, the company announced that Lawrence Stroll, who owns Racing Point, was paying £182m (€209.1m/$227.1m) deal for a 16.7-per-cent stake, which could rise to 20 per cent upon completion of the plan to raise further capital. Under Stroll’s agreement, Racing Point will become the Aston Martin F1 works team from the 2021 season.

Stroll’s 21-year-old son Lance joined Racing Point last year from Williams and has Mexican Sergio Perez as team mate.

A Mercedes spokesman commenting on Wolff’s investment said: “It is a financial investment and Toto’s partnership and executive role with Mercedes are unaffected by the transaction.” Mercedes’ parent company Daimler also owns a five-per-cent stake in Aston Martin.