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Toto Wolff urges F1 teams to consider Liberty’s share offer

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Mercedes chief Toto Wolff has urged all 10 Formula 1 teams to give Liberty Media’s offer to buy shares in the sport serious consideration following its takeover.

Liberty completed its planned acquisition of F1 two weeks ago, with American executive Chase Carey taking over as the sport’s chief in the role of CEO.

As part of Liberty’s first steps following the completion of its takeover, $400 million worth of shares in F1 were set aside for teams to purchase should they show interest.

Early reports suggested that teams were uneasy about buying a stake in F1, but Wolff believes that the proposal must be given serious – albeit careful – consideration.

“This is an idea which one shouldn’t dismiss easily,” Wolff told Austrian magazine Trend.

“But in any case, one must know more about the business case and our role in the whole [F1 project]. Talks about this have only just begun and will probably last for the coming months.”

Teams have until June 23 to make a decision on buying a stake in F1. Any of the remaining shares not bought will be retired after this date.

Takuma Sato’s likeness revealed on Borg-Warner Trophy (PHOTOS)

Photos; Walt Kuhn
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INDIANAPOLIS – Rather than the traditional December unveil, this year’s reveal newest likeness added to the Borg-Warner Trophy came Tuesday at the Indianapolis Motor Speedway Museum.

Takuma Sato got to see the result of the sculpting done by William Behrends and then turned from wax, clay and ceramic into sterling silver on Tuesday evening, as the winner of the 101st Indianapolis 500 presented by PennGrade Motor Oil saw his face revealed on the trophy.

Sato took the No. 26 Ruoff Home Mortgage Honda for Andretti Autosport to the win in thrilling fashion this year over Helio Castroneves, denying the Brazilian his fourth Indianapolis 500 victory in the process. It atoned for his near-miss in 2012, driving for Rahal Letterman Lanigan Racing, the team he’ll return to in 2018.

It’s been a whirlwind last week-plus for Sato, doing the podium interviews at the Japanese Grand Prix, reflecting on his Indianapolis 500 triumph, then sharing the victory spoils with another Japanese pilot in Yoshihide Muroya, who won the Red Bull Air Race World Championship at Indianapolis this weekend.

Photos of Sato’s face on the most unique trophy in sports are below. This post will be updated following tonight’s full unveil. (All photos: Walt Kuhn)