Toto Wolff Set to Sell Stake Pricing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – a record for an F1 team – after the McLaren team were valued at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a stake in the region of five percent.
The 53-year-old would stay on as team boss and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the company.
An official representative stated: "We will be making no official statement on this. The governance of the team will remain unchanged, and each shareholder are fully committed to continued achievements of the brand in F1."
Financial Growth
The deal would represent a significant increase in worth of the Mercedes team since Ineos Group bought its stake for £208 million in 2022.
This surge demonstrates the growth in valuations of Formula 1 outfits recently as a consequence of the growing popularity of Formula 1 around the world.
This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458 million) at cinemas worldwide.
The film represents Pitt's most successful movie and the most successful sports movie to date.
Current Standings
The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three Grands Prix left in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
