Toto Wolff Set to Sell Stake Valuing Mercedes Formula 1 Team at £4.6 Billion
Mercedes team principal Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – after the McLaren team was appraised at £3.5 billion in a change of ownership structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, would sell a stake approximately five percent.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos, who each also own a third of the company.
An official representative stated: "We will be making no comment on this. The management structure of the team will remain unchanged, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Financial Growth
This arrangement signifies a substantial rise in value of Mercedes F1 after Ineos Group bought its share for £208m in 2022.
This surge reflects the expansion in valuations of F1 teams recently due to the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing film and the highest-earning sports movie to date.
Present Performance
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.