Toto Wolff Preparing to Sell Shareholding Valuing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is in advanced talks to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5bn in a change of ownership structure in September.
Wolff, who owns one-third of Mercedes F1, plans to divest a stake approximately 5%.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on the matter. The governance of the team stays unchanged, and all three partners are dedicated to continued achievements of the brand in Formula One."
Valuation Increase
This arrangement signifies a substantial rise in worth of the Mercedes team since Ineos Group bought its stake for £208m in 2022.
This surge demonstrates the expansion in valuations of F1 teams in the past few years as a consequence of the increasing appeal of Formula 1 around the world.
This trend was evident with the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458m) at the box office.
The film represents Pitt's most successful film and the highest-earning sports movie ever released.
Present Performance
The Mercedes team are second in the constructors' championship, behind McLaren, with three races left this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
