Toto Wolff Preparing to Sell Shareholding Pricing Mercedes Formula 1 Team at £4.6 Billion
Mercedes team principal Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren was appraised at £3.5bn in an adjustment to corporate structure in September.
Wolff, who owns a 33% stake of Mercedes F1, plans to divest a shareholding approximately 5%.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold one-third of the company.
An official representative said: "We will be making no comment on the matter. The governance of the team will remain unaltered, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."
Financial Growth
The deal signifies a substantial rise in value of Mercedes F1 after 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 Formula 1 around the world.
This trend was evident with the box-office performance 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 film and the highest-earning sports movie to date.
Current Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren Racing, with three Grands Prix left this season.
Their lead driver George Russell has secured victory in 2 of the 21 races so far and is fourth in the drivers' championship behind 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 for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
