News Details
Wolff sale to value Mercedes team at nearly $6bn
Nov.12 Toto Wolff is reportedly in discussions to sell a small portion of his one-third ownership stake in the Mercedes Formula 1 team, in a deal that could value the reigning champions at a record level. According to the Financial Times, the Mercedes team – jointly owned by Wolff, Mercedes-Benz, and British chemicals giant INEOS – is now valued at around US $5.6 billion. The report claims Wolff is considering selling about 5 percent of his personal stake, which would reduce his holding to roughly 28 percent. The buyer's identity has not been confirmed, but it is widely believed to be the chief of Mercedes' cybersecurity partner CrowdStrike. If completed, the deal would...
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