Toto Wolff Preparing to Sell Stake Pricing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after McLaren was appraised at £3.5 billion in a change of corporate structure last September.
Wolff, who owns one-third of Mercedes F1, plans to divest a stake in the region of 5%.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson stated: "We will be making no comment on the matter. The management structure of Mercedes F1 will remain unchanged, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Financial Increase
This arrangement would represent a significant increase in value of the Mercedes team after Ineos Group bought its stake for £208 million in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits recently due to the increasing appeal of the sport around the world.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports movie to date.
Current Performance
Mercedes are second in the team standings, trailing McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver George Russell has secured victory in two of the 21 grands prix so far and is in fourth place in the individual standings after McLaren's 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 by Nico Rosberg, between 2014 to 2021.
