Toto Wolff Preparing to Divest Stake Valuing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – after the McLaren team were valued at £3.5bn in an adjustment to corporate structure last September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a shareholding approximately 5%.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos, who each also own a third of the company.
A Mercedes spokesperson stated: "We will be making no comment on this. The governance of Mercedes F1 stays unaltered, and each shareholder are dedicated to continued achievements of the brand in F1."
Financial Growth
This arrangement signifies a significant increase in worth of Mercedes F1 after Ineos bought its stake for £208 million in 2022.
This surge demonstrates the growth in valuations of F1 teams recently due to the growing popularity of the sport globally.
This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and earned more than $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports film ever released.
Current Performance
Mercedes are runner-up in the team standings, trailing McLaren, with three races left in the current championship.
Their lead driver George Russell has secured victory in 2 of the 21 races this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
