Mercedes Formula One Team CEO and Team Principle Toto Wolff is reportedly in advance talks to sell a “mid-single digit stake” in the team.
Wolff, according to ESPN sources, is believed to be selling 5% of his total 33% stake, which would bring Mercedes’ valuation to $6bn. Sources also revealed Wolff will remain in his roles if a share sale can be agreed.
George Kurtz, CEO of Crowdstrike, is believed to be the leading party interested in acquiring Wolff’s partial stake.
Kurtz comes primarily from a cybersecurity background, with investments in companies such as 1Password, Tailscale and Talon Cybersecurity, according to Dealroom.co.
The Mercedes F1 team is owned by Mercedes-Benz, INEOS and Wolff. Manchester United minority owner Jim Ratcliffe bought his stake in the team for $272m in 2022.
“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,” stated a Mercedes spokesperson to ESPN.
If a share sale is agreed, Mercedes’ potential $6bn valuation would become an F1 record, surpassing McLaren’s $4.86bn valuation it achieved in September following a change in ownership structure.
Mercedes’ future outlook
Additional investment in the Mercedes F1 team will complement the financial outlook for the team in years to come.
Mercedes’ 2024 financial report revealed the team raised $858m in revenue, a 16% increase from the previous year. This was primarily driven by increases in commercial revenue and on-track performance, which contributed 60% of its total revenue.
As a result of the strong financial year, $163m in dividends was distributed across the ownership group; $98m went to Mercedes-Benz Group, whilst $65m was allocated to Wolff and INEOS.
Mercedes finished fourth in the 2024 Constructors Championship last season, with drivers George Russell and Lewis Hamilton placing sixth and seventh respectively in the Drivers Championship.
This season, Andrea Kimi Antonelli joined Russell in the paddock as Hamilton departed for Ferrari. With five races left in the 2025 calendar, Mercedes is in contention for second place in the Driver’s Championship. McLaren have already won, currently sitting 358 points ahead in first.
