Toto Wolff Set to Sell Shareholding Valuing Mercedes Formula 1 Team at £4.6bn
Toto Wolff is engaged in final negotiations to offload part of his shareholding in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after McLaren was appraised at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake in the region of 5%.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold a third of the company.
An official representative stated: "We are providing no comment on the matter. The management structure of the team stays unaltered, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
This arrangement signifies a significant increase in value of Mercedes F1 since Ineos Group acquired its share for £208 million in 2022.
This surge reflects the growth in valuations of Formula 1 outfits recently as a consequence of the growing popularity of the sport around the world.
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 more than $630m (£458 million) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports film to date.
Present Standings
The Mercedes team are runner-up in the constructors' championship, behind McLaren Racing, with three races remaining in the current championship.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
