APRIL 18, 2020

Wolff buys into Aston Martin

Toto Wolff has bought a stake in Aston Martin.

Toto Wolff has bought a stake in Aston Martin.

The British car company, whose new executive chairman Lawrence Stroll also acquired a major stake recently, will become the new identity of Stroll's Racing Point team from 2021.

However, a spokesman for Wolff said the Austrian will remain Mercedes' team boss.

"It is a financial investment and Toto's partnership and executive roles with Mercedes are unaffected by the transaction," he said.

The spokesman said Wolff's Aston Martin stake will be just under 1 per cent, with reports estimating the value at about $46 million.

(GMM)