Toto Wolff Set to Sell Stake Pricing Mercedes Formula 1 Team at £4.6bn
Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6bn – a record for a Formula 1 squad – after McLaren were valued at £3.5bn in an adjustment to corporate structure in September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a shareholding approximately 5%.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The management structure of the team stays unchanged, and all three partners are fully committed to the ongoing success of the brand in Formula One."
Valuation Increase
The deal would represent a substantial rise in value of Mercedes F1 after Ineos bought its stake for £208 million in 2022.
The rise demonstrates the expansion in market values of F1 teams recently due to the growing popularity of Formula 1 around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458m) at cinemas worldwide.
It is Pitt's most successful film and the most successful sports movie ever released.
Current Performance
The Mercedes team are second in the team standings, trailing McLaren Racing, with three races remaining this season.
Their lead driver George Russell has secured victory in two of the 21 races this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
