Mercedes motorsport boss Toto Wolff has said the value was simply why he chose to buy a small stake in Aston Martin.
Ever since Racing Point owner and close friend Lawrence Stroll reached an investment deal into the British carmaker earlier this year, the Austrian has been batting off speculation that he is poised to assume the role of CEO.
However, Wolff didn’t exactly do himself any favours in quelling the rumours earlier this month, when it was announced he had bought a 4.77 percent stake in the company before a rights issue later diluted its value to just 0.95 percent.
“The stocks are very low right now and the new product line is great,” he recently told the Osterreich newspaper explaining that decision.
“It is a personal financial investment in an automobile manufacturer that has nothing to do with Formula 1 and after [coronavirus] there will be a normal time when people will buy cars again.”
Also Read:
- Racing Point has a three-year plan to win in F1 after Aston Martin rebrand
- Wolff: People adding one plus one and making three with Aston Martin claims
The current Mercedes chief though remains out of contract after 2020, opening the door to a possible exit, and Red Bull’s Helmut Marko revealed Toto has been flip-flopping from on measures put forward to save costs amid the financial fallout from Covid-19.
For now, however, his focus remains on trying to lead the Brackley-based team to a seventh straight double championship this year.
And on Monday, F1 revealed early plans to start the season at Austria’s Red Bull Ring on July 5 followed by a regionalised schedule ending in the Middle East in December.
“If the decision-makers in Austria find a concept for the start of the season with the necessary safety measures, that would be incredibly positive news for Formula 1 and for Austria,” Wolff commented.