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Wolff clarifies Mercedes future plans after selling F1 stake
Mercedes team principal Toto Wolff clarified his plans to stay at the F1 team after selling part of his stake in the Silverstone squad. Despite initial silence from Mercedes, it was later confirmed that Wolff sold 15% of his investment, which represents 5% of the team, to George Kurtz, who now serves as a Technology Advisor. Wolff assured that this transaction does not affect his position at Mercedes, with INEOS, Mercedes-Benz, and himself remaining as major stakeholders. Following speculation about his future, Wolff stated he has no intentions of leaving his role and will remain at Mercedes in his current capacity. Clarifying his decision to sell part of his stake, Wolff explained it was a strategic move aimed at leveraging the U.S. market with George Kurtz’s expertise. The sale valued the Mercedes F1 team at a record £4.6 billion.
