Toto Wolff Set to Sell Stake Valuing Mercedes F1 at £4.6 Billion
Mercedes team principal Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos, who both hold a third of the company.
A Mercedes spokesperson said: "We will be making no comment on this. The governance of Mercedes F1 will remain unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a substantial rise in worth of Mercedes F1 since Ineos bought its stake for £208m in 2022.
This surge reflects the expansion in valuations of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 globally.
This trend was evident with the box-office performance of the F1 movie starring Brad Pitt, which was released last summer and has grossed more than $630 million (£458m) at the box office.
It is the actor's top-grossing movie and the highest-earning sports movie ever released.
Present Performance
Mercedes are second in the team standings, trailing McLaren Racing, with three races left this season.
Their lead driver George Russell has secured victory in 2 of the 21 races 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 record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
