November 20, 2009 / 9:00 AM / 9 years ago

Williams F1 team sells stake to Austrian investor

Williams Formula One driver Nico Rosberg of Germany drives during the third practice session of the Singapore F1 Grand Prix at the Marina Bay street circuit September 26, 2009. REUTERS/Russell Boyce

LONDON (Reuters) - Founders Frank Williams and Patrick Head have sold a minority interest in their Williams Formula One team to an investment company led by Austrian Toto Wolff, the former champions said in a statement Friday.

Wolff, who founded his Marchsixteen investments in 2004, will join the Williams board. No financial details were given about the sale.

Reporting by Alan Baldwin

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