Toto Wolff Preparing to Sell Shareholding Pricing Mercedes F1 at £4.6 Billion
Mercedes team principal Toto Wolff is engaged in final negotiations to offload part of his shareholding in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6 billion – a record for an F1 team – following the McLaren team were valued at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a shareholding in the region of five percent.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on this. The governance of Mercedes F1 will remain unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in F1."
Valuation Increase
The deal signifies a significant increase in value of Mercedes F1 since Ineos Group acquired its stake for £208m in 2022.
The rise reflects the expansion in valuations of F1 teams recently due to the increasing appeal of Formula 1 globally.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which debuted last summer and earned over $630m (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports film to date.
Current Standings
Mercedes are second in the team standings, 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 so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
