Menu
Franchises

Mercedes Exec Dir Wolff Says Marussia Held Merger Talks With Williams, Sauber

Mercedes Exec Dir Toto Wolff has revealed that "talks have taken place about merging Marussia and Williams though he says they are 'getting nowhere' as it would lead to the closure of Marussia," according to Reid & Sylt for ESPN. Wolff is at the center of the discussions as he "owns a 12.2% stake in Williams." The team "is floated" on the Frankfurt Stock Exchange and has a market value of €180.2M ($244M), meaning that Wolff's stake is worth €22M ($29.8M). He has owned shares in Williams since '09, when he "became a director of the team." Earlier this year, "it came to light that Marussia had been in talks with Caterham about a merger, but it was thought that it had given up on the strategy." Recent rumors suggested that Marussia Owner Andrey Cheglakov "had been in discussion with Sauber and Williams about a merger and Wolff confirmed it." He said, "One of the discussions we had was with Marussia. They discussed it with Sauber as well." Marussia finished '13 in 10th place, which is one spot higher than last year. However, it "has not scored a point since joining F1" in '10. In '12 it made a £59M net loss which widened by 27.4% on the previous year. It was driven by an 8.7% increase in costs to £76.1M while revenue only rose by 2.9% to £29.4M (ESPN, 12/2).

SBJ Morning Buzzcast: March 25, 2024

NFL meeting preview; MLB's opening week ad effort and remembering Peter Angelos.

Big Get Jay Wright, March Madness is upon us and ESPN locks up CFP

On this week’s pod, our Big Get is CBS Sports college basketball analyst Jay Wright. The NCAA Championship-winning coach shares his insight with SBJ’s Austin Karp on key hoops issues and why being well dressed is an important part of his success. Also on the show, Poynter Institute senior writer Tom Jones shares who he has up and who is down in sports media. Later, SBJ’s Ben Portnoy talks the latest on ESPN’s CFP extension and who CBS, TNT Sports and ESPN need to make deep runs in the men’s and women's NCAA basketball tournaments.

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Global/Issues/2013/12/03/Franchises/Williams-Marussia.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Global/Issues/2013/12/03/Franchises/Williams-Marussia.aspx

CLOSE