Toto Wolff Preparing to Sell Shareholding Pricing Mercedes Formula 1 Team at £4.6bn
Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – a record for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a stake approximately five percent.
The 53-year-old would stay on as team principal and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold a third of the company.
An official representative said: "We will be making no comment on the matter. The governance of Mercedes F1 will remain unchanged, and each shareholder are fully committed to the ongoing success of the brand in F1."
Financial Growth
This arrangement signifies a substantial rise in worth of Mercedes F1 since Ineos Group acquired its stake for £208 million in 2022.
The rise reflects the expansion in valuations of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports movie to date.
Current Performance
Mercedes are second in the constructors' championship, trailing McLaren, with three races left this season.
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's Max Verstappen.
Mercedes secured a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
