Toto Wolff Set to Divest Stake Valuing Mercedes Formula 1 Team at £4.6 Billion
Mercedes team principal Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a stake in the region of 5%.
Wolff, aged 53 will remain as team principal and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on the matter. The governance of the team stays unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Financial Growth
The deal would represent a significant increase in worth of Mercedes F1 since Ineos bought its stake for £208m in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits recently due to the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports film to date.
Present Performance
Mercedes are runner-up in the constructors' championship, behind McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer British driver George Russell has won two of the 21 races this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
