Wolff admits business deals beyond Mercedes 'piss some people off'

Toto Wolff says there is no conflict of interest between his role at Mercedes and his business interests outside of the F1 team, although the Austrian understands why his personal deals may "piss some people off".

Wolff is a 30 percent owner of the Mercedes F1 team, but in addition to his management responsibilities at the helm of the championship winning outfit, the 48-year-old also holds personal investments in Williams and Aston Martin, and is involved in driver management in F1.

For some, Wolff's influence in the F1 paddock may loom too large, a concern the Mercedes team boss understands but minimizes.

"I completely understand that if you have been successful over a few years - and me as an entrepreneur, which I have always been - having interests in certain indirect relationships with players in the sport – this is annoying," Wolff told the media in Barcelona.

"If I were on the other side I would also pick on these things.

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"There is one essential point with me: when I joined Mercedes, I decided, and this was an intense discussion with Mercedes, to do everything in the interest of the sport.

"So, to clarify: I sold the Williams shares but I got them back because they were held in escrow and the last payment defaulted. It’s not something that I wanted and I made it clear with Mercedes that my main priority with those shares is to sell them.

"So the process that has been started by Claire and the team is something that I really appreciate because it allows me to sell those shares. That’s number one.

"Number two: The Aston Martin investment is tiny. I’ve bought a few shares in a car company that has no direct shareholding with an F1 team but is simply doing the branding on the Red Bull car this year and on the Racing Point next year.

"I see it as a good investment – I like the products, the new management team is fantastic. And I have no board seat, which was agreed with Daimler, and no other involvement.

"I’m not a consultant, I’m not an executive and I’m just watching from the sideline what happens."

Wolff qualifies himself as a common shareholder in Aston Martin Lagonda, but the Austrian is also a close friend of Aston executive chairman and Racing Point owner Lawrence Stroll.

The relationship could therefore be construed by his critics as one that could potentially provide Wolff with timely and non-public information on which he could act as an investor.

Wolff also clarified his driver management involvement in F1.

The Mercedes boss invested at an early stage in the talent of Valtteri Bottas along with fellow associates Mika Hakkinen and Didier Cotton.

But since the Finn's move to Mercedes in 2017, Wolff is no longer part of his driver's personal management, while his relationship with Renault driver Esteban Ocon has been brought under the Mercedes umbrella.

"It’s all under the roof of MGP, of the Mercedes Formula 1 team," Wolff explained.

"We have tried, like any other big team, to really look at the talent that is coming up from karting onwards, and like Ferrari, that has expanded its activities in the junior programme, and has some very promising young drivers coming up, we have done that a few years ago.

"Red Bull has done it. There is no conflict of interest. But I understand that it pisses some people off and sometimes the perception is something that is important to recognise and I do that."

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