Toto Wolff Set to Divest Stake Valuing Mercedes F1 at £4.6bn
Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6bn – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5bn in a change of ownership structure in September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a stake approximately five percent.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the company.
A Mercedes spokesperson said: "We are providing no official statement on this. The governance of Mercedes F1 will remain unchanged, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Financial Growth
The deal would represent a significant increase in value of Mercedes F1 after Ineos acquired its share for £208m in 2022.
This surge demonstrates the growth in valuations of Formula 1 outfits 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 has grossed over $630m (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports movie to date.
Present Standings
Mercedes are runner-up in the team standings, trailing McLaren, with three Grands Prix left this season.
Their lead driver British driver George Russell has won 2 of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
