Toto Wolff Preparing to Divest Stake Valuing Mercedes F1 at £4.6bn
Mercedes team principal Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of ownership structure in September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a stake in the region of 5%.
Wolff, aged 53 will remain as team principal and CEO if the sale goes through.
Shareholder Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We will be making no comment on this. The governance of the team stays unchanged, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Financial Growth
The deal signifies a substantial rise in worth of the Mercedes team after Ineos Group bought its stake for £208 million in 2022.
This surge reflects the expansion in market values of F1 teams recently due to the growing popularity of the sport globally.
This trend was evident with the box-office performance of the F1 movie starring Brad Pitt, which was released last summer and earned more than $630m (£458m) at the box office.
It is the actor's top-grossing movie and the highest-earning sports movie ever released.
Present Standings
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races left in the current championship.
Their lead driver British driver George Russell has won 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 secured a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
