Toto Wolff Set to Sell Shareholding Valuing Mercedes F1 at £4.6bn
Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a stake approximately five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the company.
A Mercedes spokesperson said: "We are providing no comment on this. The governance of Mercedes F1 will remain unaltered, and each shareholder are fully committed to continued achievements of the brand in F1."
Valuation Growth
This arrangement signifies a significant increase in value of the Mercedes team since Ineos Group bought its share for £208m in 2022.
This surge demonstrates the expansion in valuations of F1 teams in the past few years as a consequence of the growing popularity of the sport globally.
This was also seen in the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports film ever released.
Present Performance
The Mercedes team are runner-up in the team standings, trailing McLaren, with three Grands Prix left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races 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 secured a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
