Toto Wolff: I'm not planning to go anywhere.
Mercedes team principal Toto Wolff said that the sale of a 15% stake in the team to George Kurtz, the CEO and founder of CrowdStrike, will not affect his role or status...
Toto Wolff: "I have no plans to sell the remaining shares or to leave my post. I am in a good position and I enjoy it. And as long as I feel I am contributing, and others believe I am contributing, there is no reason to think otherwise.
I sold some of my shares to George — a racing driver, a tech entrepreneur and a man who will help us conquer the US market. That's all, nothing more.
If someone had told us five years ago how much the team would be worth, we would never have believed it. But it's simply an extrapolation of team profitability. Because of the cost cap our business has changed radically; we stopped spending money recklessly and were able to increase revenues and turnover. All of that has led to such high valuations.
If you look at American teams, five years ago the Dallas Cowboys were worth $3 billion. Today they're worth $12 billion because of changes in the underlying fundamentals. So I don't know where the future will take us.
If we develop the sport and put on great shows, there is no reason why we can't continue to grow."
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Toto Wolff: I'm not planning to go anywhere.
Toto Wolff stated that the sale of the team's shares will not affect his position and status…
