Toto Wolff Preparing to Sell Shareholding Pricing Mercedes F1 at £4.6 Billion
Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5 billion in a change of ownership structure in September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the company.
An official representative stated: "We will be making no official statement on this. The management structure of the team will remain unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
This arrangement signifies a substantial rise in value of the Mercedes team after Ineos bought its stake for £208 million in 2022.
The rise demonstrates the growth in valuations of F1 teams recently as a consequence of the growing popularity of the sport globally.
This trend was evident with the box-office performance of the F1 movie featuring Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful movie and the highest-earning sports film to date.
Present Standings
The Mercedes team are second in the team standings, behind McLaren, with three Grands Prix left in the current championship.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix this year and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
