Mercedes F1 chief Toto Wolff has purchased shares in Aston Martin Lagonda, the iconic British automotive brand which will return to the F1 grid next year with the rebranded Racing Point team.

Wolff has been at the helm as Mercedes have dominated F1 in the turbo hybrid era by sweeping the board with six successive drivers’ and constructors’ championship doubles.

READ MORE: Racing Point to become Aston Martin works team for 2021

On Friday, it was revealed in regulatory documents released by Aston Martin Lagonda that Wolff had purchased a 4.77% stake in Aston Martin.

That will be diluted to 0.95% on Monday following a rights issue by the manufacturer to raise capital in a bid to turn the company’s fortunes around.

It therefore means Wolff becomes a private investor in Aston Martin, joining Mercedes parent company Daimler which has been a long term shareholder in the brand.

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A Mercedes spokesperson said: "Fully diluted following the pending rights issue on Monday, this investment will represent a 0.95% stake in the company.

“It is a financial investment and Toto's partnership and executive role with Mercedes are unaffected by the transaction."