After reports emerged that Toto Wolff bought into Williams, the team’s deputy team principal Claire Williams clarifies he did not actually buy new shares.
It has been reported last month that Mercedes team boss Toto Wolff, who originally became a minority stakeholder at Williams in 2009, reacquired a five percent stake in the British team. However, at the Styrian Grand Prix press conference, Claire Williams clarified what actually happened.
“The reports weren’t correct,” said Williams.
“Toto, as everybody knows, bought a shareholding a long time back now, back in 2009, from Frank [Williams] and Patrick [Head].
“He then obviously subsequently joined Mercedes, and as part of that move, he obviously had to divest his shareholding.
“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.
“Toto has not bought new shares in the business in the recent past or new past. It was just an issue with a transaction.”