Toto Wolff Preparing to Sell Stake Pricing Mercedes Formula 1 Team at £4.6bn
Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – a record for an F1 team – after McLaren were valued at £3.5bn in a change of corporate structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a shareholding approximately 5%.
The 53-year-old would stay on as team boss and CEO if the sale goes through.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who each also own one-third of the enterprise.
An official representative said: "We will be making no comment on the matter. The governance of Mercedes F1 will remain unaltered, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Financial Increase
The deal signifies a significant increase in value of Mercedes F1 after Ineos Group acquired its stake for £208m in 2022.
This surge reflects the expansion in valuations of Formula 1 outfits in the past few years due to the growing popularity 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 in summer 2023 and earned more than $630m (£458 million) at the box office.
It is the actor's top-grossing movie and the most successful sports movie ever released.
Current Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has won two of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
