Hollinger ups stake in Williams as Wolff sells shares

25 February 2015 | Posted in Sports Properties, Formula One, Motorsport, Williams, | By David Cushnan

Hollinger ups stake in Williams as Wolff sells shares

American businessman Brad Hollinger has become the second largest shareholder in the Williams Formula One team, after buying a further stake from Mercedes motorsport chief Toto Wolff.

Wolff is a former executive at Williams and, after leaving in January 2013 to take on a new role at Mercedes, where he led the team to last year's world championship, set in motion a plan to reduce his 15 per cent stake in the British team.

After selling five per cent of his stake in Williams to healthcare entrepreneur Hollinger last June, he has now sold another five per cent, leaving the Austrian with a five per cent stake.

Hollinger now owns ten per cent, behind only founder Sir Frank Williams' 52 per cent stake. Former technical director Patrick Head holds a nine per cent stake, with the remainder split between staff benefits and the stake publicly traded on the Frankfurt Stock Exchange.

Autosport quoted Wolff, whose wife Susie is Williams’ reserve driver, as saying: "When I transitioned from Williams to Mercedes, there was a path that we agreed with Mercedes that was to reduce the shareholding in Williams over time. We agreed on a structured approach, not selling the shares to anybody but finding somebody who is of value for the family and the team.

He added: "There would have been opportunities in between, and finally Brad is the perfect guy. I am just short of five per cent which is what I agreed with Daimler to be the target and considered as a financial investment. That is the current status and I have no plans to change it. As a financial investment I very much like the company."

Williams finished third in last year's constructors' championship, behind only Wolff's Mercedes team and Red Bull Racing.

A PHP Error was encountered

Severity: Warning

Message: mysql_query(): Can't connect to local MySQL server through socket '/var/lib/mysql/mysql.sock' (2)

Filename: libraries/Functions.php(679) : eval()'d code

Line Number: 403

A PHP Error was encountered

Severity: Warning

Message: mysql_query(): A link to the server could not be established

Filename: libraries/Functions.php(679) : eval()'d code

Line Number: 403

A PHP Error was encountered

Severity: Warning

Message: mysql_fetch_assoc() expects parameter 1 to be resource, boolean given

Filename: libraries/Functions.php(679) : eval()'d code

Line Number: 404

A PHP Error was encountered

Severity: Warning

Message: mysql_query(): Can't connect to local MySQL server through socket '/var/lib/mysql/mysql.sock' (2)

Filename: libraries/Functions.php(679) : eval()'d code

Line Number: 427

A PHP Error was encountered

Severity: Warning

Message: mysql_query(): A link to the server could not be established

Filename: libraries/Functions.php(679) : eval()'d code

Line Number: 427

A PHP Error was encountered

Severity: Warning

Message: mysql_num_rows() expects parameter 1 to be resource, boolean given

Filename: libraries/Functions.php(679) : eval()'d code

Line Number: 429

blog comments powered by Disqus
Share |

Sports Business Directory

Verity Russel & Father Sport Industry Group International Motorcycling Federation (FIM) International Judo Federation (IJF) Alpari World Match Racing Tour
Streamline Marketing Group C5 Communications Limited International Rugby Board International Sambo Federation (FIAS) European Synthetic Turf Association