Toto Wolff Set to Divest Shareholding Valuing Mercedes F1 at £4.6bn
Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6bn – a record for a Formula 1 squad – following McLaren was appraised at £3.5 billion in a change of ownership structure in September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a stake approximately 5%.
Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on this. The governance of Mercedes F1 stays unaltered, and each shareholder are dedicated to the ongoing success of the brand in F1."
Valuation Growth
This arrangement signifies a substantial rise in worth of the Mercedes team since Ineos Group bought its share for £208m in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits recently due to the growing popularity of Formula 1 globally.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630m (£458 million) at the box office.
It is the actor's top-grossing film and the most successful sports film to date.
Current Performance
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three races left this season.
Their lead driver British driver George Russell has won two 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's Max Verstappen.
Mercedes secured a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
