American healthcare entrepreneur Brad Hollinger has acquired a 5% stake in Williams, having bought some of the shares previously owned by Toto Wolff.
Vibra Healthcare owner Hollinger has raced in SCCA and historic events, and owns and drives a number of F1 cars, including a Benetton, Williams and Jordan. He runs under the Hollinger Group Motorsports name.
When Wolff landed his role as Mercedes motor sport boss he indicated that he would back out of his involvement with Williams, and that process has taken some 18 months to get underway.
“When I got involved with Mercedes it was clear that I was going to cut own the shareholding to a pure financial investor’s size,” Wolff told this writer. “It was important to get somebody who was good for the team, for the company, for the [Williams] family, who has a good understanding. There are many people who when it comes to being able to commit, they are not able to.
“He’s a serious entrepreneur. He owns historic cars and he has an understanding for the business, and he decided to take a similar role like I did in 2009, start with a financial investment and then see how it pans out. He has 5% and he has an option to acquire more from me, but no plans at the moment beyond that.”
Wolff says Hollinger won’t be involved in decision making: “No, not at all. He has his own core business, that’s what he’s doing, and this is a mixture between believing in the business case, and the global sports club that is F1, and enjoyment.”