Toto Wolff Preparing to Divest Shareholding Valuing Mercedes F1 at £4.6bn
Mercedes team principal Toto Wolff is in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – a record for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in a change of ownership structure in September.
Wolff, who holds one-third of Mercedes F1, plans to divest a stake in the region of 5%.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We will be making no comment on the matter. The governance of Mercedes F1 stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
The deal signifies a significant increase in worth of the Mercedes team since Ineos Group bought its stake for £208 million in 2022.
This surge reflects the expansion in market values of F1 teams in the past few years due to the increasing appeal of the sport globally.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which debuted last summer and has grossed more than $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful movie and the highest-earning sports movie ever released.
Present Performance
Mercedes are second in the team standings, behind McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races this year and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
