Formula 1 News: Wolff sale to value Mercedes team at nearly $6bn

(GMM) Toto Wolff (pictured) is reportedly in discussions to sell a small portion of his one-third ownership stake in the Mercedes Formula 1 team, in a deal that could value the reigning champions at a record level.

According to the Financial Times, the Mercedes team – jointly owned by Wolff, Mercedes-Benz, and British chemicals giant INEOS – is now valued at around US $5.6 billion.

The report claims Wolff is considering selling about 5 percent of his personal stake, which would reduce his holding to roughly 28 percent. The buyer’s identity has not been confirmed, but it is widely believed to be the chief of Mercedes’ cybersecurity partner CrowdStrike.

If completed, the deal would represent the highest-ever valuation for a Formula 1 team, eclipsing the 4.3 billion figure recently associated with McLaren following its latest ownership restructure.

It also marks a staggering rise in value since INEOS acquired its one-third share in January 2020 for around 260 million.

A Mercedes spokesperson commented: “The governance will remain unchanged and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula 1.”

Wolff, 53, has been team principal and co-owner since 2013.