Toto Wolff Preparing to Sell Shareholding Pricing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for an F1 team – after McLaren was appraised at £3.5bn in an adjustment to corporate structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.
Shareholder Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold a third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on this. The management structure of the team stays unaltered, and each shareholder are dedicated to continued achievements of the brand in F1."
Financial Increase
The deal signifies a substantial rise in worth of the Mercedes team after Ineos bought its share for £208 million in 2022.
This surge reflects the expansion in market values of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 globally.
This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630m (£458m) at the box office.
The film represents Pitt's most successful movie and the most successful sports film ever released.
Current Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
