Williams Sell Minority Stake in Formula 1 to Austrian Investor

With all the money that goes into running an F1 team, and the limited opportunity to make any of it back, we can’t see why anyone would view owning a team as a sound investment. Evidently Herr Toto Wollf feels otherwise, as the Austrian financier and gentleman racing driver has acquired a minority interest in Williams Grand Prix Engineering.

This marks the first time in over 30 years of operations that Frank Williams and Patrick Head, the two team principals, have sold shares to an outside party. For his part, Sir Frank insists that business will carry on as usual, that they’re not relinquishing control over the team, and that the sale was simply a way of ensuring the team’s financial viability. Tellingly, though, he also indicated that Wolff, some 30 years younger than Williams and Head and the veteran of local rallies and international sportscar racing, could take the reins some day in the future.