Toto Wolff Preparing to Sell Stake Valuing Mercedes Formula 1 Team at £4.6bn
Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following McLaren were valued at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own a third of the enterprise.
An official representative stated: "We are providing no official statement on this. The management structure of the team will remain unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Growth
The deal signifies a significant increase in worth of the Mercedes team since Ineos bought its stake for £208 million in 2022.
The rise demonstrates the growth in valuations of F1 teams recently as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630 million (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports film to date.
Current Standings
The Mercedes team are runner-up in the team standings, trailing McLaren, with three races remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races this year and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
