Wolff ’surprised’ by soaring Mercedes valuation

Toto Wolff says he was shocked by how much Mercedes’ value has exploded - but insists selling a slice of his stake doesn’t mean he’s stepping away.

The Mercedes CEO and team boss recently sold 15 percent of his holdings to CrowdStrike founder George Kurtz, trimming his share from 33 to 28 percent. But Wolff told reporters he remains fully committed.

"I have no intention of selling the team and I have no intention of stepping down," he said. "I’m in a great place, enjoying it. As long as I feel I’m contributing - and others feel the same - there’s no reason to think in that direction."

Wolff said the sale was simply a strategic partnership.

"What I did was sell some of my investment holdings to George. He’s a racer, a tech entrepreneur, someone who can help me tap into the American market. That’s why - nothing else."

Mercedes is now valued at an extraordinary $6 billion, meaning Wolff’s reduced stake still netted him around $300 million. Even he admits the price tag is astonishing.

"If someone had told us five years ago what the valuation would be, we would never have believed it."

He credited the cost cap and Liberty Media’s financial structure for the huge leap.

"The cost cap fundamentally changed our business case. Greg Maffei protected us from ourselves - revenue went up, free cash flow went up, and that pushed valuations higher."

Using NFL valuations as an example, Wolff said the sport’s growth potential remains huge.

"Five years ago the Dallas Cowboys were valued at $3 billion - now it’s $12 billion. If we continue to understand what makes the sport fun and put on a great show, there’s no reason F1 can’t keep growing. It just needs to be protected in the right way."