Toto Wolff is in advanced talks to sell part of his 33% stake in the Mercedes Formula 1 team which would put its overall valuation around £4.6 billion ($6bn), sources have told ESPN.
Wolff, who would remain in his duel roles as chief executive officer and team principal, is looking to sell a reported “mid-single digit stake” in his holding — the Financial Times reports the stake at 5% of his overall 33.
Multiple sources with good knowledge of the deal have told ESPN the talks are with Crowdstrike CEO George Kurtz.
The deal estimated valuation of the overall Mercedes entity would surpass the recent purchase of a stake in the McLaren F1 team that valued the team at around £3.5bn.
A Mercedes spokesperson said: “We will be making no comment on this. The governance of the team will remain unchanged, and all three partners [Mercedes-Benz, Toto and INEOS] are fully committed to the ongoing success of Mercedes-Benz in Formula One.”
Those three entities all currently own a 33% stake in the team.
Under Wolff’s guidance Mercedes enjoyed record-breaking success between 2014 and 2021, winning seven drivers’ championships and eight constructors’.
Mercedes is second in this year’s team standings and is looking to hold off rivals Red Bull and Ferrari in the final three races.
