Toto Wolff Preparing to Divest Shareholding Valuing Mercedes F1 at £4.6 Billion
Mercedes team principal Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a shareholding approximately 5%.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who both hold one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on this. The governance of the team will remain unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
This arrangement would represent a substantial rise in worth of the Mercedes team since Ineos Group acquired its share for £208m in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits recently as a consequence of the growing popularity of Formula 1 globally.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630m (£458m) at the box office.
The film represents Pitt's most successful film and the most successful sports movie to date.
Present Performance
The Mercedes team are second in the team standings, trailing McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
