Racing Point CEO 'can't see' Wolff stake in Aston Martin F1 team

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Racing Point CEO Otmar Szafnauer "can't see" Mercedes boss Toto Wolff taking a stake in the Aston Martin Formula 1 team.

Next year, the Silverstone-based outfit will assume the identity of the British carmaker, this after owner Lawrence Stroll bought a 25 percent stake and assumed the role of executive chairman.

Ever since, Wolff, a friend of the Canadian, has been linked to the role of CEO at Aston, something he has strenuously denied. But did recently buy his own £37m stake in the company, worth 0.95 percent after a rights issue.

So while it would make sense then that Toto would be interested in the F1 team, as it is considered a key part of Stroll's strategy for Aston, Szafnauer claims the two entities are separate.

“I can’t see him having a stake in our [F1] team, for example,” the American told Sky Sports.

“The road car company, having shares in that, is completely different than having shares in a loss-making Formula 1 team."

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Even so, Szafnauer, who's role might be at risk if Wolff did get involved in the F1 team, admits he isn't sure what his stake will entail.

“I haven’t spoken to him in six or seven weeks, since Melbourne," he revealed. “I’ve seen him on a couple of these Zoom calls but I haven’t asked him that question.

“Knowing Toto like I do, I think he’s absolutely right. It was a good time to buy if you look at the share price and the trend," he added.

“Toto’s pretty smart at that stuff he’s made a bit of money doing these sorts of things, and I think he’s absolutely right, a good time to buy.”

Wolff though isn't doing much to quell the rumours, revealing he's set to have a reduced presence at Mercedes this year.

“For 2020 I am the team principal at Mercedes, even if I may divide my time differently and not be at every race,” he told the Osterreich newspaper.

“I want to do my part to ensure that Lewis Hamilton wins the seventh title."

Technical director James Allison has been taking over in the Austrian's absence previously, but Wolff suggested he isn't the only person capable of assuming his position.

“One of the strengths of our organisation is empowerment," he commented. “If one of us was to be sidelined completely, the rest of the pack would pick up the ball and run with it.

“That is a benefit that is special to the Mercedes F1 team.”

 

         

 

 

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