Toto Wolff Preparing to Divest Shareholding Valuing Mercedes F1 at £4.6 Billion
Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – a record for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in a change of ownership structure in September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a stake in the region of five percent.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who both hold one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on the matter. The governance of Mercedes F1 will remain unchanged, and each shareholder are fully committed to continued achievements of the brand in F1."
Financial Increase
This arrangement signifies a substantial rise in worth of Mercedes F1 since Ineos Group acquired its share for £208m in 2022.
The rise demonstrates the growth in valuations of F1 teams in the past few years as a consequence of the increasing appeal of Formula 1 around the world.
This was also seen in the success of the F1 movie starring Brad Pitt, which debuted in summer 2023 and earned more than $630m (£458m) at the box office.
It is the actor's top-grossing movie and the highest-earning sports film to date.
Current Performance
The Mercedes team are runner-up in the team standings, trailing McLaren, with three races left in the current championship.
Their lead driver George Russell has secured victory in two of the 21 races so far and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
