Toto Wolff in Advanced Negotiations to Sell Part of his Stake in Mercedes
Sources close to the situation report that Toto Wolff, CEO and team principal of Mercedes in Formula 1, is in advanced talks to sell a portion of his 33% stake in the team. This transaction could value the racing team at approximately 4.6 billion pounds sterling ($6 billion).
Wolff, who would continue to perform his current roles, would be willing to sell a “mid-single-digit stake” of his participation. The Financial Times reports that this stake could be 5% of his total 33%.
According to multiple sources with knowledge of the agreement, negotiations are reportedly underway with George Kurtz, CEO of Crowdstrike.
The estimated valuation of the Mercedes team would exceed the recent acquisition of a stake in the McLaren F1 team, which valued the latter at around 3.5 billion pounds sterling.Toto Wolff podría vender parte de su participación en Mercedes, lo que situaría su valoración en unos 4.6 mil millones de libras esterlinas, una cifra récord.A Mercedes spokesperson stated: “We will not comment on this. The team’s governance will remain unchanged, and the three partners [Mercedes-Benz, Toto, and INEOS] are fully committed to the continued success of Mercedes-Benz in Formula One.”
Currently, these three entities each hold a 33% stake in the team.
Under Wolff’s direction, Mercedes achieved unprecedented success between 2014 and 2021, winning seven drivers’ championships and eight constructors’.
Mercedes holds second place in this year’s team standings and seeks to defend itself against rivals Red Bull and Ferrari in the last three races.
