Toto Wolff Set to Sell Shareholding Pricing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following McLaren were valued at £3.5 billion in an adjustment to ownership structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a stake approximately five percent.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Ownership Structure
The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who both hold one-third of the company.
An official representative said: "We will be making no comment on this. The governance of Mercedes F1 will remain unaltered, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Valuation Increase
The deal would represent a significant increase in value of the Mercedes team after Ineos bought its stake for £208m in 2022.
The rise reflects the growth in valuations of Formula 1 outfits in the past few years as a consequence of the growing popularity of Formula 1 globally.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458 million) at the box office.
It is Pitt's most successful film and the most successful sports film to date.
Present Performance
Mercedes are runner-up in the constructors' championship, behind McLaren, with three Grands Prix remaining in the current championship.
Their lead driver George Russell has won 2 of the 21 grands prix so far and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
