Toto Wolff Preparing to Sell Shareholding Valuing Mercedes Formula 1 Team at £4.6 Billion
Mercedes team principal Toto Wolff is engaged in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – after the McLaren team were valued at £3.5bn in a change of ownership structure last September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a shareholding approximately five percent.
The 53-year-old would stay on as team boss and CEO if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the company.
A Mercedes spokesperson stated: "We will be making no comment on the matter. The management structure of Mercedes F1 stays unchanged, and all three partners are dedicated to the ongoing success of the brand in F1."
Valuation Growth
The deal signifies a substantial rise in value of the Mercedes team since Ineos bought its stake for £208m in 2022.
This surge reflects the growth in valuations of F1 teams in the past few years due to the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and earned more than $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports film ever released.
Current Performance
Mercedes are runner-up in the team standings, trailing McLaren, with three Grands Prix left this season.
Their lead driver George Russell has secured victory in two of the 21 grands prix so far and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.