Toto Wolff Set to Divest Shareholding Valuing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6 billion – a record for an F1 team – after McLaren was appraised at £3.5bn in a change of corporate structure in September.
Wolff, who owns one-third of Mercedes F1, would sell a stake approximately 5%.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold a third of the enterprise.
An official representative said: "We are providing no comment on this. The management structure of Mercedes F1 will remain unchanged, and each shareholder are dedicated to continued achievements of the brand in F1."
Valuation Increase
This arrangement would represent a significant increase in worth of Mercedes F1 after Ineos bought its stake for £208 million in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of the sport globally.
This was also seen in the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458 million) at the box office.
The film represents the actor's top-grossing movie and the most successful sports film to date.
Present Standings
Mercedes are second in the team standings, behind McLaren Racing, with three races remaining this season.
Their lead driver George Russell has won 2 of the 21 races so far and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
