Williams sells team share to Toto Wolff

(GMM) Williams has sold a minority share to an investment company, the independent British formula one team announced in a short media statement on Friday.

The media release said the new shareholder and board member is Austrian Toto Wolff.

Wolff, whose real first name is Christian, was a racing driver, contesting junior single seater categories as well as Le Mans and GT sportscars.

He recorded one of the fastest ever laps of the Nurburgring's famous Nordschleife layout in a Porsche 997 in April 2009.

Wolff founded his investment company Marchsixteen in 1998, and is involved with other motor racing firms and driver management. His partner is the Scottish race driver Susie Stoddart.

Grove based Williams was previously owned only by Sir Frank Williams and Patrick Head.