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 shareholding in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6 billion – a record for an F1 team – after McLaren was appraised at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the company.
An official representative stated: "We will be making no comment on this. The governance of Mercedes F1 will remain unchanged, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Financial Growth
The deal signifies a significant increase in value of the Mercedes team since Ineos bought its share for £208m in 2022.
This surge demonstrates the expansion in valuations of F1 teams recently due to 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 debuted in summer 2023 and has grossed more than $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports film ever released.
Current Performance
The Mercedes team are runner-up in the constructors' championship, trailing McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer British driver George Russell has won two of the 21 grands prix this year and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
