Toto Wolff Set to Divest Stake Valuing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following McLaren were valued at £3.5 billion in an adjustment to ownership structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a stake in the region of 5%.
The 53-year-old would stay on as team boss and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the company.
An official representative stated: "We are providing no official statement on this. The governance of Mercedes F1 will remain unaltered, and each shareholder are dedicated to continued achievements of the brand in F1."
Financial Increase
The deal would represent a significant increase in value of the Mercedes team since Ineos acquired its share for £208m in 2022.
The rise reflects the growth in market values of Formula 1 outfits recently due to the growing popularity of Formula 1 globally.
This trend was evident with the success of the F1 movie starring Brad Pitt, which was released last summer and earned more than $630m (£458 million) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports film to date.
Current Performance
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
