Toto Wolff Preparing to Divest Shareholding Valuing Mercedes F1 at £4.6 Billion
Toto Wolff is in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction 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 a change of ownership structure in September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a shareholding approximately five percent.
Wolff, aged 53 will remain 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 company.
A Mercedes spokesperson said: "We are providing no comment on this. The governance of the team stays unaltered, and each shareholder are dedicated to the ongoing success of the brand in F1."
Valuation Increase
This arrangement signifies a significant increase in value of the Mercedes team since Ineos Group acquired its stake for £208m in 2022.
This surge reflects the growth in valuations of F1 teams in the past few years due to the growing popularity of Formula 1 globally.
This trend was evident with the success of the F1 movie featuring Brad Pitt, which debuted last summer and earned more than $630m (£458m) at the box office.
It is the actor's top-grossing movie and the highest-earning sports film to date.
Present Performance
The Mercedes team are second in the team standings, behind McLaren Racing, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix 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 drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
