Toto Wolff Set to Divest Shareholding Valuing Mercedes Formula 1 Team at £4.6bn
Mercedes team principal Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after McLaren was appraised at £3.5 billion in a change of ownership structure in September.
The Austrian executive, who holds one-third of Mercedes F1, would sell a stake in the region of 5%.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The governance of the team stays unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Growth
The deal signifies a substantial rise in value of the Mercedes team after Ineos Group acquired its share for £208 million in 2022.
The rise reflects the growth in valuations of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 globally.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which debuted last summer and has grossed over $630m (£458m) at cinemas worldwide.
It is Pitt's most successful film and the most successful sports movie ever released.
Present Standings
The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has won two of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
