Williams sell minority stake in team 20 Nov 2009
Williams owners Frank Williams and Patrick Head announced Friday that they have sold a minority interest in the team to an investment company led by Austrian Toto Wolff, who also joins the Williams board of directors.
Wolff, a 37-year-old venture capitalist from Vienna, is a keen racer and motorsport enthusiast. His driving CV includes a wide range of series, from Formula Ford to touring cars, FIA GTs and rallying. Most recently he was runner-up in the 2006 Austrian rally championship.
His investment companies are also heavily involved in motorsport, through the likes of HWA, who build and race cars for Mercedes in the German Touring Car Championship (DTM), and Baumschlager Rallye Racing, who run Red Bulls Rally Junior Programme.
Wolff also co-owns a company with two-time Formula One world champion Mika Hakkinen, involved in the management of up and coming young drivers.