ART Grand Prix co-founder Todt sells stake in team

Nicolas Todt has sold his shares in the ART Grand Prix racing team which he formed with Frederic Vasseur, the pair – who reportedly have been at loggerheads for some time now – formed the team back in 2004.

Todt, son of FIA President Jean Todt, said in a statement, “I am very proud to have contributed to the creation and development of this team, which has always enjoyed great success.”

“ART Grand Prix has allowed the emergence of young talents at all levels of the company: mechanics, engineers and of course drivers who are the visible part of this iceberg and some of whom have subsequently made their mark in the history of F1.

“My experience at ART Grand Prix has been rich in lessons as well as a catalyst for my activities in motorsport. I wish ART Grand Prix and all those who are associated with it to continue on the same path of excellence and to fight at the forefront in the various championships in which they will participate”.

Despite the supposed bad blood between the pair, Vassuer was full of praise for his former partner, “I founded ART Grand Prix with Nicolas at a time when pooling our individual areas of expertise could benefit all parties involved.”

“There has certainly been synergy since its birth in 2004, with ART Grand Prix achieving most of the goals it had set and Nicolas playing a large part in the overall success of the company. Without him, this development would not have been possible.”

“Today the evolution of ART Grand Prix, mine and that of Nicolas, naturally led us to take different paths in a win-win strategy that will allow everyone to continue their career in the best conditions.”

“I thank Nicolas for these years of collaboration which have been extremely rich in results and wish him the best for 2019 and the years to come.”

ART has won titles in GP2 Series, Formula 2, Formula 3 and GP3 Series and have fielded the likes of Lewis Hamilton, Nico Rosberg, Nico Hulkenberg, Jules Bianchi, Stoffel Vandoorne, George Russell, Valtteri Bottas, Esteban Gutierrez, Esteban Ocon, Charles Leclerc and George Russell their latest champion.

Vasseur remains team principal of the Sauber team, since his appointment, the once-beleaguered outfit enjoyed their strongest season in years under the Frenchman, who took over the team chief job in July 2017 after Monisha Kaltenborn parted ways with the Swiss tea.