Austrian Toto Wolff, chairman and co-owner of Mercedes, is in negotiations to sell his 33% stake in the Formula 1 team. The process, according to North American newspaper Sportico, values the team at approximately R$34 billion (US$6 billion), which would set a historic record in the sport.
Wolff bought his stake in Mercedes in 2013, when the team was still looking to cement its place at the top. Since then, he has driven eight consecutive constructors’ titles and seven drivers’ titles, all of which he won between 2014 and 2021. Even with the agreement, he must continue as CEO and team leader, while remaining responsible for sporting and strategic decisions.
Despite his success, the technical director also accumulated criticism and controversy, especially after the controversial decision regarding the 2021 title, when Lewis Hamilton lost the championship to Max Verstappen on the last lap in Abu Dhabi. In the following years, as the team’s performance declined, controversy grew over whether he would remain in his position.
However, Wolff has renewed his contract until 2026 and remains committed to the Mercedes project. If the sale is completed, he will reduce part of his shareholding exposure, but will remain at the helm of the team.
If the deal goes through, the value would exceed McLaren’s last record, which was valued at US$4.7 billion in a partial sale in October.
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