Toto Wolff Preparing to Sell Shareholding Valuing Mercedes F1 at £4.6 Billion
Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in a change of ownership structure in September.
Wolff, who owns one-third of Mercedes F1, would sell a stake in the region of 5%.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing no official statement on this. The management structure of Mercedes F1 stays unaltered, and each shareholder are fully committed to continued achievements of the brand in F1."
Financial Increase
This arrangement signifies a significant increase in value of the Mercedes team after Ineos Group acquired its stake for £208m in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits recently as a consequence of the growing popularity of Formula 1 globally.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports film ever released.
Present Performance
Mercedes are second in the constructors' championship, trailing McLaren Racing, with three races left in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 grands prix so far and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
