Toto Wolff Set to Sell Stake Pricing Mercedes F1 at £4.6bn
Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of ownership structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a stake in the region of 5%.
The 53-year-old will remain as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on this. The governance of the team stays unaltered, and each shareholder are fully committed to continued achievements of the brand in F1."
Valuation Increase
The deal signifies a significant increase in value of Mercedes F1 since Ineos Group bought its share for £208 million in 2022.
The rise demonstrates the expansion in valuations of F1 teams in the past few years due to the increasing appeal of Formula 1 globally.
This trend was evident with the success of the F1 movie starring Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports film ever released.
Current Performance
The Mercedes team are runner-up in the team standings, trailing McLaren, with three races remaining this season.
Their lead driver British driver George Russell has won 2 of the 21 grands prix so far and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
