Toto Wolff Set to Sell Stake Valuing Mercedes Formula 1 Team at £4.6bn
Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following McLaren were valued at £3.5bn in an adjustment to ownership structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake in the region of 5%.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the company.
An official representative stated: "We will be making no official statement on the matter. The governance of Mercedes F1 stays unaltered, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
This arrangement would represent a substantial rise in value of Mercedes F1 after Ineos Group acquired its share for £208 million in 2022.
This surge demonstrates the expansion in valuations of F1 teams in the past few years due to the growing popularity of Formula 1 around the world.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and earned over $630m (£458 million) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports film to date.
Current Performance
Mercedes are second in the team standings, trailing McLaren, with three races remaining in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 grands prix so far and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
