Toto Wolff Set 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 £4.6bn – an unprecedented figure for an F1 team – after McLaren were valued at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, would sell a shareholding approximately 5%.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no comment on the matter. The governance of Mercedes F1 will remain unaltered, and each shareholder are fully committed to the ongoing success of the brand in F1."
Financial Increase
The deal would represent a significant increase in worth of Mercedes F1 after Ineos acquired its stake for £208 million in 2022.
The rise reflects the growth in market values 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 success of the F1 movie featuring Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458 million) at the box office.
The film represents Pitt's most successful film and the most successful sports movie ever released.
Present Performance
The Mercedes team are second in the team standings, behind McLaren Racing, with three races left in the current championship.
Mercedes' primary racer George Russell has won two of the 21 races so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
