Toto Wolff Preparing to Sell Stake Valuing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5bn in a change of ownership structure last September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a stake in the region of five percent.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the company.
An official representative stated: "We will be making no official statement on the matter. The governance of the team stays unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Growth
The deal signifies a significant increase in worth of the Mercedes team after Ineos Group acquired its share for £208m in 2022.
The rise reflects the expansion in market values of Formula 1 outfits recently as a consequence of the increasing appeal of the sport around the world.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which debuted last summer and has grossed more than $630 million (£458 million) at cinemas worldwide.
The film represents Pitt's most successful movie and the highest-earning sports movie to date.
Present Performance
Mercedes are runner-up in the constructors' championship, behind McLaren, with three Grands Prix left this season.
Mercedes' primary racer British driver George Russell has won two of the 21 grands prix this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
