Toto Wolff Preparing to Divest Shareholding Valuing Mercedes F1 at £4.6 Billion
Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – after McLaren was appraised at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake approximately five percent.
The 53-year-old would stay on as team boss and CEO should the deal proceed.
Shareholder Structure
Remaining partners in the team are Mercedes and industrial group Ineos, who both hold a third of the company.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The management structure of the team stays unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
The deal signifies a significant increase in worth of Mercedes F1 after Ineos acquired its share for £208 million in 2022.
The rise demonstrates the expansion in valuations of F1 teams in the past few years due to the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which was released in summer 2023 and earned over $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports film to date.
Current Standings
Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix this year and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
