Toto Wolff Preparing to Divest Stake Valuing Mercedes Formula 1 Team at £4.6bn
Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – a record for an F1 team – after McLaren were valued at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a shareholding in the region of five percent.
The 53-year-old will remain as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
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 the team will remain unchanged, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Valuation Increase
This arrangement signifies a significant increase in value of Mercedes F1 since Ineos Group bought its share for £208m in 2022.
The rise demonstrates the growth in market values of Formula 1 outfits recently as a consequence of the increasing appeal of Formula 1 globally.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which was released last summer and has grossed over $630m (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the highest-earning sports film to date.
Current Standings
Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 grands prix this year and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.