Daimler AG’s Formula One team Mercedes Grand Prix Ltd., which didn’t win a race with seven- time champion Michael Schumacher in the past three years, plans to hire Toto Wolff as executive director from Williams.
Williams Grand Prix Holdings Plc said profit from its Formula One business rose 28 percent to 5.8 million pounds ($9.5 million) last year on cost cuts. Sales fell 16 percent to 91 million pounds.
News Corp. and the Agnelli family’s Exor SpA face “Olympic-sized” negotiations should they go ahead with an attempt to buy Formula One auto racing, team owner Frank Williams said.
Mercury City, the tower Russian retail billionaire Igor Kesaev is building in Moscow’s new financial district, overtook the Shard in London as Europe’s tallest skyscraper.
Williams Grand Prix Holding Plc retreated in Frankfurt after its 60 million-euro ($83 million) initial public offering, the first time a Formula One motor sport team has sold shares to the public.
Formula One chief executive officer Bernie Ecclestone said other groups have made approaches about buying the series apart from prospective bidders News Corp. and the Agnelli family’s Exor SpA.
Williams Formula One team said one employee remains in the hospital after suffering burns yesterday in a garage fire following the Spanish Grand Prix.
"Everyone at Williams F1 (WGF1) is extremely relieved that this event was contained as quickly as it was and the damage which occurred was, relatively speaking, limited in its nature."
- Frank Williams on May 14, 2012