P1racenews AI automatic summary:
Toto Wolff is in talks to sell part of his stake in the Mercedes Formula 1 team to the co-founder of one of the team’s major sponsors.
Toto Wolff is reportedly considering selling five per cent of his stake in the Mercedes Formula 1 team to George Kurtz, co-founder of prominent sponsor CrowdStrike, as per reports from the Financial Times.
Wolff currently holds a 33 per cent share in the Brackley-based team, with his share valued at a staggering $6 billion.
Despite the potential sale, Wolff is expected to maintain his roles as Team Principal and Chief Executive within the team.
Mercedes has confirmed that the team’s governance will remain unchanged, with all partners fully committed to the continued success of the Mercedes-Benz F1 team.
The team experienced significant financial gains recently, recording the highest net profit in F1 history, earning £161 million in profit after an £853 million revenue in the 2024 financial report.
