Toto Wolff Preparing to Divest Stake Valuing Mercedes F1 at £4.6 Billion
Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – a record for a Formula 1 squad – after the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately 5%.
Wolff, aged 53 will remain as team principal and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold a third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The governance of Mercedes F1 stays unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
The deal would represent a substantial rise in value of the Mercedes team after Ineos acquired its stake for £208 million in 2022.
The rise reflects the growth in valuations of F1 teams in the past few years as a consequence of the increasing appeal of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and earned more than $630m (£458 million) at the box office.
It is the actor's top-grossing movie and the highest-earning sports film to date.
Current Performance
Mercedes are second in the constructors' championship, behind McLaren Racing, with three races left in the current championship.
Their lead driver George Russell has won two of the 21 grands prix this year and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
