Toto Wolff Set to Divest Shareholding Pricing Mercedes F1 at £4.6 Billion
Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5bn in an adjustment to corporate structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake approximately five percent.
The 53-year-old will remain as team boss and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The governance of the team stays unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
The deal signifies a significant increase in worth of the Mercedes team since Ineos acquired its stake for £208 million in 2022.
The rise reflects the expansion in valuations of F1 teams recently as a consequence of the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and earned over $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports film to date.
Current Performance
Mercedes are second in the constructors' championship, behind McLaren, with three races remaining in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 grands prix this year and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
