Toto Wolff Set to Sell Shareholding Valuing Mercedes F1 at £4.6 Billion
Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Shareholder Structure
The other shareholders in the team are Mercedes and industrial group Ineos Group, who each also own a third of the company.
An official representative said: "We are providing no comment on the matter. The governance of the team will remain unchanged, and each shareholder are fully committed to the ongoing success of the brand in F1."
Valuation Increase
This arrangement signifies a substantial rise in worth of Mercedes F1 after Ineos acquired its stake for £208m in 2022.
The rise reflects the expansion in market values of Formula 1 outfits in the past few years due to the growing popularity of the sport 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 more than $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the highest-earning sports movie to date.
Present Performance
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix this year and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
