Toto Wolff Set to Sell Shareholding Valuing Mercedes Formula 1 Team at £4.6bn
Toto Wolff is in final negotiations to offload part 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 – after the McLaren team were valued at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell a shareholding in the region of five percent.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who both hold a third of the enterprise.
An official representative stated: "We are providing no comment on the matter. The management structure of Mercedes F1 will remain unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
This arrangement would represent a substantial rise in worth of the Mercedes team since Ineos Group bought its stake for £208m in 2022.
The rise reflects the growth in market values of F1 teams recently due to the growing popularity of the sport globally.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports film ever released.
Current Standings
Mercedes are second in the team standings, trailing McLaren, with three Grands Prix left this season.
Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix so far and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
