Why Does Toto Wolff Refuse to Sell Mercedes?

Toto Wolff says none of the owners wants to sell Mercedes shares, because they believe in the long-term path of the team and the sport.

A revenue multiple taken from a Lakers sale would price the team at 10 or 12 billion, and he says the business could be valued higher than a year ago. He treats the higher figure as paper. His horizon is long enough that chasing a bigger valuation through the ups and downs of the sport does not matter. He does not want a trophy investor who would maximize the price, and he wants the group seen as the serious people in the sport. He also thinks live sports stay resilient to the technology now arriving, because audiences want the drama and the glory of a human driver. He does not believe a robot would go quicker, and he calls that a separate argument.