Toto Wolff Preparing to Divest Shareholding Pricing Mercedes Formula 1 Team at £4.6bn
Toto Wolff is in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – a record for an F1 team – after the McLaren team was appraised at £3.5 billion in a change of ownership structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, would sell a stake approximately 5%.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the company.
A Mercedes spokesperson said: "We are providing no comment on this. The management structure of Mercedes F1 will remain unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Growth
The deal signifies a significant increase in worth of the Mercedes team after Ineos acquired its share for £208 million in 2022.
The rise reflects the expansion in market values of Formula 1 outfits recently due to the growing popularity of the sport around the world.
This trend was evident with the success of the F1 movie starring Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458 million) at the box office.
It is Pitt's most successful movie and the most successful sports movie ever released.
Present Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three races remaining in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 races so far and is fourth in the individual standings after 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 by Nico Rosberg, between 2014 to 2021.
