Toto Wolff Set to Sell Shareholding Pricing Mercedes Formula 1 Team at £4.6bn
Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – after the McLaren team was appraised at £3.5bn in an adjustment to corporate structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
The 53-year-old will remain as team boss and CEO if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who each also own a third of the enterprise.
An official representative stated: "We are providing no comment on the matter. The management structure of the team stays unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Growth
The deal would represent a significant increase in worth of the Mercedes team since Ineos bought its stake for £208m in 2022.
This surge demonstrates the expansion in valuations of F1 teams recently as a consequence of the increasing appeal of the sport around the world.
This trend was evident with the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458m) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports movie to date.
Current Performance
Mercedes are second in the constructors' championship, trailing McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.