Toto Wolff, the CEO and Team Principal of Mercedes-AMG Petronas F1 Team, is reportedly in advanced talks to sell a portion of his 33% stake in the team, valuing the outfit at a record $6 billion. The potential deal involves a mid-single-digit percentage of Wolff’s holding company, with the buyer expected to be George Kurtz, co-founder and CEO of cybersecurity firm CrowdStrike, a long-time partner of Mercedes F1.
Wolff’s decision to sell a part of his stake is seen as a strategic move to unlock liquidity and bring in a new investor, while retaining his role as team principal and CEO. The deal highlights the significant growth in F1’s popularity and commercial value, driven by Netflix’s “Drive to Survive” and Apple’s F1 movie. Mercedes, under Wolff’s leadership, has won eight consecutive Constructors’ Championships and seven Drivers’ titles.
The valuation of Mercedes F1 at $6 billion marks a substantial increase from its 2013 value of $165 million, when Wolff acquired his stake. The team generated $812 million in revenue in 2024, with Wolff earning over $50 million in salary and dividends. The sale is expected to bring in fresh capital and expertise, supporting Mercedes’ future success.
Kurtz, the potential buyer, is a keen motorsport enthusiast with experience competing in endurance events, including Le Mans. His involvement is seen as a strategic fit, given CrowdStrike’s existing partnership with Mercedes F1. The deal is subject to finalization, but Wolff’s retention of his roles suggests a continued commitment to the team’s success.
The sale would further solidify F1’s position as a high-growth, attractive asset class, with teams like McLaren and Alpine attracting significant investments. As F1 continues to expand globally, the sport’s financial landscape is expected to evolve, with Wolff’s move potentially paving the way for future investments.
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