Toto Wolff Preparing to Divest Shareholding Pricing Mercedes Formula 1 Team at £4.6bn
Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of corporate structure in September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a stake in the region of five percent.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who both hold a third of the company.
A Mercedes spokesperson said: "We will be making no comment on this. The management structure of Mercedes F1 will remain unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Growth
The deal signifies a significant increase in value of the Mercedes team after Ineos Group bought its stake for £208m in 2022.
This surge reflects the growth in market values of F1 teams recently due to the growing popularity of the sport globally.
This trend was evident with the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458 million) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports movie ever released.
Present Performance
The Mercedes team are runner-up in the team standings, behind McLaren, with three races left this season.
Mercedes' primary racer British driver George Russell has won two of the 21 races so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
