Toto Wolff Preparing to Sell Shareholding Valuing Mercedes F1 at £4.6bn
Mercedes team principal Toto Wolff is in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5bn in an adjustment to ownership structure last September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, would sell a shareholding approximately 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who both hold a third of the company.
A Mercedes spokesperson said: "We are providing no comment on this. The governance of Mercedes F1 stays unchanged, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
The deal would represent a substantial rise in worth of Mercedes F1 since Ineos acquired its stake for £208m in 2022.
The rise demonstrates the expansion in market values of F1 teams recently due to the increasing appeal of the sport around the world.
This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458 million) at the box office.
It is the actor's top-grossing movie and the highest-earning sports film ever released.
Present Standings
Mercedes are second in the constructors' championship, trailing McLaren, with three races left this season.
Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.