Toto Wolff Preparing to Sell Stake Pricing Mercedes F1 at £4.6bn
Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – following McLaren was appraised at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a shareholding in the region of 5%.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Shareholder Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos Group, who each also own a third of the company.
A Mercedes spokesperson said: "We are providing no comment on the matter. The management structure of the team stays unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
This arrangement signifies a significant increase in value of the Mercedes team after Ineos bought its stake for £208m in 2022.
The rise reflects the growth in market values of Formula 1 outfits recently due to the increasing appeal of Formula 1 globally.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which was released last summer and has grossed more than $630m (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports film to date.
Current Performance
Mercedes are second in the team standings, behind McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver George Russell has won two of the 21 grands prix this year and is fourth in the drivers' championship after McLaren's 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 to 2021.
