Toto Wolff Preparing to Divest Shareholding Valuing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is engaged in final negotiations to offload part of his ownership stake in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5bn in an adjustment to corporate structure in September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a shareholding in the region of five percent.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the company.
An official representative stated: "We are providing no official statement on this. The governance of the team will remain unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."
Financial Growth
The deal signifies a substantial rise in worth of the Mercedes team since Ineos Group acquired its stake for £208 million in 2022.
This surge reflects the growth in valuations of Formula 1 outfits recently due to the increasing appeal of the sport globally.
This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458 million) at the box office.
It is Pitt's most successful movie and the most successful sports film ever released.
Current Standings
Mercedes are runner-up in the team standings, behind McLaren, with three Grands Prix left in the current championship.
Mercedes' primary racer George Russell has won two of the 21 grands prix this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
