Toto Wolff Preparing to Sell Stake Valuing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is in advanced talks 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 a Formula 1 squad – following McLaren was appraised at £3.5bn in a change of corporate structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake approximately 5%.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the company.
An official representative stated: "We will be making no official statement on this. The management structure of Mercedes F1 stays unaltered, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Valuation Growth
The deal signifies a substantial rise in worth of Mercedes F1 after Ineos bought its share for £208 million in 2022.
The rise demonstrates the growth in valuations of F1 teams recently as a consequence of the growing popularity of the sport globally.
This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which was released last summer and earned over $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports film ever released.
Present Standings
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three races left this season.
Their lead driver British driver George Russell has won two 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.
The team secured a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
