Toto Wolff Dismisses Exit Talk After Selling Minority Stake to CrowdStrike CEO at £4.6bn Valuation
He says the deal brings a tech investor to help Mercedes grow in the US, reflecting F1’s stronger economics under the cost cap.
Overview
- Wolff said he has no plan to sell Mercedes or leave his roles as CEO and team principal despite the transaction.
- He sold 15% of his investment holding to George Kurtz, translating to a 5% share of the Mercedes F1 team.
- Motorsport Week reported the 15% holding sale at approximately £230 million, implying a team valuation of about £4.6 billion.
- Wolff described Kurtz as a racer and tech entrepreneur expected to help the team leverage opportunities in the United States.
- He attributed rising team valuations to the cost cap, citing improved profitability, revenues and free cash flow across F1.