Co-founder Nicolas Todt has sold all his shares in ART Grand Prix to current shareholders within the company to cut his ties to the French squad.

ART Grand Prix, who currently compete in Formula 2 and the revamped Formula 3 championships, was started up by Todt and current Sauber team principal Frederic Vasseur in late 2004 and has become one of the most successful teams in the F1 feeder categories over the past decade highlight by five GP2 drivers’ and teams’ titles.

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After a brief move into DTM with Mercedes in 2015 and 2016, ART Grand Prix refocused its attention to the direct F1 support classes and has already confirmed its 2019 plans in both F2 and F3.

In F2, the team has signed Nikita Mazepin and Nyck de Vries, while also securing David Beckmann in one of its three F3 driver slots for next season.

ART Grand Prix has confirmed Todt has sold his shares in the team to current shareholders, with fellow co-founder Vasseur crediting the French driver manager with helping form the squad’s success.

“I founded ART Grand Prix with Nicolas at a time when pooling our individual areas of expertise could benefit all parties involved,” Vasseur said. “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.”

Todt, son of FIA President and former Ferrari chief Jean Todt, has spoken of his pride for his part in ART Grand Prix’s success both on track and with young drivers and team members.

“I am very proud to have contributed to the creation and development of this team, which has always enjoyed great success,” Todt said. “Its corporate culture, which focuses on young people and allows them to flourish, is a trademark of ART Grand Prix and to its credit.

“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.”

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