Toto Wolff Preparing to Sell Stake Pricing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a stake in the region of five percent.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold a third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The governance of Mercedes F1 will remain unaltered, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Financial Increase
This arrangement signifies a significant increase in value of the Mercedes team since Ineos acquired its share for £208 million in 2022.
The rise reflects the expansion in market values of Formula 1 outfits recently as a consequence of the growing popularity of the sport globally.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458 million) at the box office.
It is Pitt's most successful film and the highest-earning sports movie ever released.
Present Standings
Mercedes are runner-up in the team standings, behind McLaren, with three races remaining in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races this year and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
