Toto Wolff Preparing to Sell Stake Valuing Mercedes F1 at £4.6bn
Mercedes team principal Toto Wolff is in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a stake approximately 5%.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos, who each also own a third of the company.
An official representative said: "We will be making no comment on this. The governance of Mercedes F1 will remain unaltered, and each shareholder are dedicated to continued achievements of the brand in F1."
Financial Growth
The deal signifies a significant increase in worth of Mercedes F1 since Ineos Group acquired its share for £208 million in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits recently as a consequence of the increasing appeal of the sport globally.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458m) at the box office.
It is Pitt's most successful film and the highest-earning sports film to date.
Current Standings
The Mercedes team are second in the constructors' championship, trailing McLaren, with three races left in the current championship.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing'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, between 2014 to 2021.