Formula 1 news
Wolff: Worth of privateers on the up
20 November 2009Christian Wolff has explained that his reasons to buy a minority share in the Williams team are solely for profit-making purposes and not for an active role in the running of team. The Austrian racer and businessman makes history by becoming the first person other than Frank Williams or Patrick Head to hold a stake of the Grove outfit.
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Christian Wolff, known simply as 'Toto', is a 37-year-old businessman from Austrian capital Vienna and also a talented man behind the wheel, with his lap record at Germany's villainous original Nürburgring being testament to that. Owner of Marchsixteen Investments, his buy-in percentage will remain private.
"My investment in Williams is a pure strategic decision," explained Wolff, who also owns a management firm with former double Champion Mika Häkkinen plus just under half of HWA, the company behind Mercedes' DTM team. "With recent pull-outs of manufacturers from F1, the value of privateer teams will increase.
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| With 3 car manufacturers having left F1 in the space of a year, Wolff expects the value of private teams such as Williams to rise |
"Overall, I expect the value of F1 to rise again, therefore this is a commercial decision; I met with Sir Frank and Patrick in May for the first time - none approached the other side deliberately, we just got together and started talking.
"Because of contractual clauses, I cannot reveal my share but it is over 10 and below 49 percent."
His on-track record also includes the runner-up position in the 2006 Austrian rally championship as well as being victor of the Dubai 24 Hours endurance race the same year. Off-track, Wolff - who speaks no less than five languages - is engaged to DTM driver Susie Stoddart."
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Valencia |
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Valencia |
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Valencia |
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Silverstone |
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Silverstone |
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| 10 Feb. |
Jerez |
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Jerez |
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Jerez |
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Jerez |
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