Toto Wolff Preparing to Divest Stake Valuing Mercedes F1 at £4.6 Billion
Mercedes team principal Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5bn in a change of corporate structure in September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a stake in the region of 5%.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold a third of the enterprise.
An official representative stated: "We are providing no comment on the matter. The management structure of the team will remain unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Growth
The deal signifies a substantial rise in worth of the Mercedes team since Ineos Group acquired its share for £208 million in 2022.
The rise reflects the growth in market values of F1 teams recently due to the increasing appeal of the sport globally.
This was also seen in the success of the F1 movie starring Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful movie and the highest-earning sports movie to date.
Current Performance
The Mercedes team are runner-up in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
