Toto Wolff Preparing to Sell Shareholding Valuing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6bn – a record for a Formula 1 squad – following McLaren was appraised at £3.5 billion in a change of corporate structure last September.
Wolff, who owns a 33% stake of Mercedes F1, plans to divest a shareholding approximately 5%.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who each also own one-third of the company.
A Mercedes spokesperson said: "We are providing no official statement on this. The management structure of Mercedes F1 will remain unaltered, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."
Financial Increase
The deal signifies a substantial rise in value of Mercedes F1 after Ineos bought its stake for £208 million in 2022.
The rise reflects the growth in market values of F1 teams recently as a consequence of the increasing appeal of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing film and the highest-earning sports movie to date.
Present Standings
The Mercedes team are second in the team standings, behind McLaren Racing, with three races left this season.
Their lead driver British driver George Russell has secured victory in two of the 21 races this year and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
