Toto Wolff Preparing to Sell Stake Pricing Mercedes F1 at £4.6 Billion
Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – following the McLaren team were valued at £3.5bn in a change of ownership structure last September.
Wolff, who owns one-third of Mercedes F1, would sell a stake in the region of five percent.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Shareholder Structure
The other shareholders 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 comment on this. The management structure of the team stays unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a substantial rise in value of the Mercedes team after Ineos Group bought its share for £208 million in 2022.
The rise demonstrates the growth in market values of F1 teams recently as a consequence of the increasing appeal of Formula 1 around the world.
This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and earned over $630m (£458 million) at the box office.
The film represents the actor's top-grossing movie and the most successful sports film to date.
Current Standings
Mercedes are second in the team standings, behind McLaren, with three races left this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
