Toto Wolff Set to Sell Stake Valuing Mercedes F1 at £4.6bn
Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
This transaction values 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 in September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a stake in the region of five percent.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who both hold a third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The governance of the team stays unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
The deal would represent a substantial rise in value of Mercedes F1 since Ineos Group bought its share for £208m in 2022.
This surge reflects the growth in market values of Formula 1 outfits recently due to the growing popularity 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 the box office.
The film represents Pitt's most successful film and the most successful sports movie to date.
Current Performance
The Mercedes team are second in the team standings, trailing McLaren, with three races remaining this season.
Their lead driver British driver George Russell has won 2 of the 21 grands prix so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
