Toto Wolff Preparing to Divest Stake Valuing Mercedes F1 at £4.6bn
Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – a record for an F1 team – after the McLaren team were valued at £3.5bn in an adjustment to ownership structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a stake in the region of five percent.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos, who each also own a third of the company.
An official representative stated: "We will be making no official statement on the matter. The management structure of Mercedes F1 stays unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
This arrangement signifies a significant increase in value of Mercedes F1 since Ineos bought its share for £208m in 2022.
The rise reflects the expansion in market values of F1 teams recently due to the increasing appeal of Formula 1 around the world.
This was also seen in the success of the F1 movie featuring Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458 million) at the box office.
The film represents the actor's top-grossing movie and the most successful sports film to date.
Current Standings
The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three races left in the current championship.
Their lead driver George Russell has secured victory in two of the 21 races so far 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 secured a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
