Toto Wolff Preparing to Sell Shareholding Valuing Mercedes Formula 1 Team at £4.6 Billion
Mercedes team principal Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a stake approximately 5%.
The 53-year-old will remain as team boss and CEO if the sale goes through.
Ownership Structure
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the enterprise.
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 fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Growth
This arrangement signifies a significant increase in worth of Mercedes F1 since Ineos acquired its share for £208m in 2022.
The rise reflects the growth in market values of F1 teams in the past few years due to the growing popularity of the sport globally.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful movie and the most successful sports movie ever released.
Present Standings
Mercedes are runner-up in the team standings, behind McLaren Racing, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races so far and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.