Williams has been going downhill for a while now. They had two atrocious seasons in F1 where they only accumulated 6 points in 42 races. Even off the track, they are facing problems. Recently they terminated their deal with title sponsor ROKit. Thereafter, they announced a formal sale process and were open to selling their majority stake. So who can save Williams now? Enter Toto Wolff.
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The Mercedes Team Principal seems to be on an investment spree. Only last week Wolff bought shares in Aston Martin who will replace Racing Point in 2021. Now he has bought a share in the Grove-based outfit as well.
Toto Wolff buys a 5% share in Williams
This is the second time Toto Wolff has bought a share in Williams. He previously owned a 15% stake in the Grove-based outfit until he sold it in 2014. Wolff also owns a 30% share in Mercedes.
Former Team Manager at Williams, Peter Windsor was optimistic about their survival after Wolff purchased the shares. He said, “Good to see that Mercedes’ Toto Wolff yesterday bought back a five percent shareholding in Williams F1. The team could be heading in the right direction for the first time in a while.”
However, he issued a follow-up post saying, “ Merc (Mercedes) point out that it is a security and thus not technically a ‘buy-back.’ A security is ‘a first priority interest in favor of the Security Agent in respect of all of the shares in such Owner’. Make of that what you will.”
Mercedes statement is an ambiguous one. Does it mean that Mercedes want to have the first priority regarding the acquisition of Williams? Or does it mean Wolff is just an investor? Regardless of why Wolff bought the shares, it makes him an investor nonetheless. So hopefully Toto can alleviate some of Williams’ problems. We all hope to see Williams continue in F1 and let us hope that Toto’s shares help them stay afloat. Meanwhile, fans of the historic Grove-based team will hope their luck takes a turn for the better on the track this season.
