Toto Wolff Set to Sell Stake Pricing Mercedes Formula 1 Team at £4.6 Billion
Mercedes team principal Toto Wolff is engaged in final negotiations to offload part of his ownership stake in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6bn – a record for a Formula 1 squad – after McLaren was appraised at £3.5 billion in a change of corporate structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a stake approximately 5%.
Wolff, aged 53 will remain 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 each also own one-third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The governance of Mercedes F1 stays unchanged, and all three partners are dedicated to continued achievements of the brand in Formula One."
Financial Increase
The deal signifies a substantial rise in worth of Mercedes F1 after Ineos Group bought its share for £208m in 2022.
The rise reflects the expansion in market values of Formula 1 outfits in the past few years due to the increasing appeal of the sport globally.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and earned over $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports film to date.
Current Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three races remaining in the current championship.
Mercedes' primary racer George Russell has won two of the 21 grands prix this year and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.