US businessman Brad Hollinger has bought five percent of the shares of Williams F1, with an option to increase his shareholding to around 15 percent by the end of the year. The shares previously belonged to Toto Wolff who was required to reduce his holding in the team after he became the head of Mercedes motorsport. Hollinger is a longtime F1 fan, who got into the sport in the 1970s after seeing the US Grand Prix at Watkins Glen. He owns several F1 cars, including a Benetton-Renault and Jacques Villeneuve’s World Championship Williams-Renault.
Hollinger is the chairman and chief executive officer of Vibra Healthcare, which owns and operates healthcare facilities across the United States. The company has a turnover of around $1 billion a year. Hollinger says that be believes that F1 has a big future and expects to see explosive growth in the business in the years ahead as the sport properly embraces social media.