Toto Wolff Preparing to Sell Shareholding Valuing Mercedes F1 at £4.6 Billion
Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6bn – a record for a Formula 1 squad – after McLaren was appraised at £3.5 billion in a change of corporate structure in September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold a third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on the matter. The governance of the team stays unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
This arrangement signifies a significant increase in worth of Mercedes F1 after Ineos bought its share for £208 million in 2022.
The rise reflects the growth in market values of F1 teams in the past few years due to the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports movie ever released.
Present Performance
The Mercedes team are second in the constructors' championship, behind McLaren, with three races remaining this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
