Toto Wolff Set to Divest Stake Pricing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is engaged in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6bn – a record for a Formula 1 squad – after McLaren were valued at £3.5bn in a change of corporate structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a stake approximately 5%.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own a third of the company.
A Mercedes spokesperson said: "We will be making no official statement on this. The governance of Mercedes F1 will remain unchanged, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Valuation Increase
The deal signifies a substantial rise in value of the Mercedes team since Ineos acquired its share for £208m in 2022.
This surge demonstrates the growth in valuations of F1 teams recently as a consequence of the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and earned more than $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports film to date.
Present Standings
Mercedes are second in the team standings, behind McLaren, with three Grands Prix left in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix so far and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
