Cardinal Archbishop of Manila Gaudencio Rosales (front in center, wearing hat) leads thousands of Catholic priests along a main street during a procession on the last day of the Second National Congress of Clergy in Pasay city, metro Manila January 29, 2010. The Congress is aimed at strengthening vows of priests in the predominantly Catholic Philippines. REUTERS/Romeo Ranoco (PHILIPPINES - Tags: RELIGION SOCIETY)
Photograph by: ROMEO RANOCO
Credit: REUTERS

Team principal Sir Frank Williams and co-founder Patrick Head have been sole owners of the team since its creation in 1977, but now have agreed to sell an unstated percentage of the team to an investment firm headed by former racing driver Toto Wolff.

Wolff's investment firms Marchfifteen and Marchsixteen were previously involved in financing companies involved in rally and touring car racing.

Wolff used to race in Formula Ford in Austria and Germany, plus GT and touring car racing. He co-owns a management company with ex-Formula One champion Mika Hakkinen.