Toto Wolff Set to Sell Shareholding Pricing Mercedes F1 at £4.6bn
Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5 billion in a change of ownership structure in September.
Wolff, who owns a 33% stake of Mercedes F1, plans to divest a stake in the region of five percent.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own one-third of the company.
A Mercedes spokesperson said: "We are providing no comment on this. The governance of Mercedes F1 stays unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Growth
The deal signifies a significant increase in value of the Mercedes team since Ineos Group bought its stake for £208m in 2022.
This surge reflects the expansion in valuations of F1 teams in the past few years as a consequence of the increasing appeal of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports movie ever released.
Current Standings
The Mercedes team are second in the constructors' championship, behind McLaren, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 grands prix so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing'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, between 2014 and 2021.
