Toto Wolff Set to Divest Shareholding Pricing Mercedes Formula 1 Team at £4.6 Billion
Mercedes team principal Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a shareholding in the region of five percent.
The 53-year-old would stay on as team boss and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson said: "We will be making no comment on this. The management structure of Mercedes F1 stays unaltered, and all three partners are fully committed to continued achievements of the brand in F1."
Financial Growth
The deal would represent a substantial rise in value of Mercedes F1 since Ineos bought its share for £208m in 2022.
The rise reflects the expansion in market values of Formula 1 outfits in the past few years due to the increasing appeal of the sport globally.
This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned over $630m (£458 million) at the box office.
The film represents the actor's top-grossing film and the most successful sports movie to date.
Current Standings
Mercedes are second in the team standings, trailing McLaren Racing, with three races left this season.
Their lead driver George Russell has won two of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.