Toto Wolff Set to Divest Stake Valuing Mercedes Formula 1 Team at £4.6bn
Mercedes team principal Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for an F1 team – following the McLaren team was appraised at £3.5bn in a change of ownership structure last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Ownership Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who both hold a third of the company.
An official representative said: "We are providing no comment on this. The management structure of Mercedes F1 will remain unchanged, and each shareholder are dedicated to continued achievements of the brand in F1."
Valuation Increase
The deal signifies a significant increase in value of the Mercedes team after Ineos Group bought its share for £208 million in 2022.
The rise demonstrates 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 has grossed over $630m (£458 million) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports film to date.
Present Standings
The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three Grands Prix left in the current championship.
Their lead driver George Russell has secured victory in two of the 21 grands prix so far and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
