Toto Wolff Set to Sell Shareholding Valuing Mercedes Formula 1 Team at £4.6 Billion
Mercedes team principal Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in an adjustment to ownership structure in September.
The Austrian executive, who holds one-third of Mercedes F1, would sell a stake approximately five percent.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The governance of the team will remain unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Increase
This arrangement would represent a significant increase in worth of Mercedes F1 after Ineos Group bought its share for £208 million in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 around the world.
This was also seen in the success of the F1 movie starring Brad Pitt, which was released last summer and has grossed more than $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports movie ever released.
Present Standings
Mercedes are runner-up in the team standings, behind McLaren Racing, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has won two of the 21 races so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
