Toto Wolff Preparing to Divest Stake Pricing Mercedes Formula 1 Team at £4.6bn
Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following McLaren was appraised at £3.5 billion in a change of corporate structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a stake approximately five percent.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the company.
An official representative stated: "We are providing no official statement on the matter. The governance of Mercedes F1 will remain unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in F1."
Valuation Growth
The deal signifies a significant increase in value of Mercedes F1 since Ineos 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 Formula 1 globally.
This trend was evident with the success of the F1 movie starring Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458 million) at the box office.
It is the actor's top-grossing movie and the most successful sports film ever released.
Present Performance
Mercedes are second in the team standings, behind McLaren, with three races remaining this season.
Their lead driver British driver George Russell has won two of the 21 races this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
