Toto Wolff Set to Sell Shareholding Valuing Mercedes Formula 1 Team at £4.6bn
Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6 billion – a record for an F1 team – after McLaren was appraised at £3.5bn in a change of ownership structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a shareholding approximately 5%.
The 53-year-old will remain as team principal and chief executive officer if the sale goes through.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos Group, who both hold a third of the company.
An official representative stated: "We are providing no comment on the matter. The governance of the team will remain unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Growth
This arrangement signifies a substantial rise in value of Mercedes F1 after Ineos bought its share for £208 million in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits recently due to the growing popularity of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458 million) at the box office.
The film represents the actor's top-grossing film and the most successful sports film ever released.
Present Performance
Mercedes are runner-up in the team standings, behind McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
