P1racenews AI automatic summary:
Toto Wolff ‘in advanced talks’ to sell Mercedes stake
Toto Wolff is reportedly considering selling a portion of his 33 per cent stake in the Mercedes F1 team, which is valued at a staggering $6 billion, potentially setting a new record valuation for an F1 team. The sale, if finalized, will not impact Wolff’s role as team principal and CEO at Mercedes. Currently, Mercedes F1 team ownership is divided equally among the German car manufacturer, Wolff, and Ineos, with Jim Ratcliffe serving as chairman and controlling shareholder. Wolff’s earnings from Mercedes in 2024 reportedly exceeded $50 million, which includes salary and dividends from his ownership stake. His total net worth is estimated to be around $1.6 billion, making him one of the wealthiest F1 team principals.
