Toto Wolff Set to Sell Shareholding Pricing Mercedes Formula 1 Team at £4.6bn
Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren was appraised at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who holds one-third of Mercedes F1, would sell a stake in the region of five percent.
The 53-year-old would stay on as team boss and chief executive officer if the sale goes through.
Shareholder Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos, who both hold one-third of the enterprise.
An official representative said: "We are providing no comment on this. The management structure of Mercedes F1 will remain unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in F1."
Financial Growth
This arrangement signifies a significant increase in worth of the Mercedes team after Ineos Group 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 Formula 1 globally.
This was also seen in the box-office performance of the F1 movie featuring 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 highest-earning sports movie ever released.
Current Standings
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three races remaining this season.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
