Toto Wolff sells last shares in Williams team

Toto Wolff has severed his last ties to the Williams team.

The Austrian entered Formula 1 in 2009 when he bought into the British team and became a director.

He left in 2013 when he bought 30% of Mercedes's new works team and became boss, promising to parent Daimler that he would end the conflict of interest by selling his shares in Williams.

In 2014, Wolff sold a third of his 15% Williams stake to US private healthcare businessman Brad Hollinger, who subsequently bought another 5% last year.

That left Wolff just short of a 5% stake in Williams, but reports including in the Wall Street Journal say that the 44-year-old is now no longer involved in any capacity with the Oxfordshire-based team.

"Williams was my first investment in Formula 1 bringing together my passion for racing and for business," Wolff told the International Business Times. "And so cutting my final business ties to Sir Frank and to the team is a huge moment for me.

"I am surprised how emotional I am about this day."

Williams' majority owner and team boss Sir Frank Williams commented: "Given his role at Mercedes-Benz, a full divestment in Toto's shareholding became inevitable and we thank him for this judiciousness in only selling to a suitable buyer when the time was right."

Toto's wife, Susie Wolff, has also left Williams after several years as a test driver.