Toto Wolff Preparing to Sell Stake Pricing Mercedes F1 at £4.6 Billion
Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following McLaren was appraised at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a stake approximately 5%.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no comment on the matter. The management structure of Mercedes F1 stays unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
This arrangement signifies a significant increase in value of the Mercedes team since Ineos acquired its share for £208 million in 2022.
This surge reflects the growth in valuations of Formula 1 outfits recently due to the increasing appeal of Formula 1 globally.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and earned over $630m (£458m) at the box office.
The film represents Pitt's most successful movie and the most successful sports movie to date.
Current Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races so far and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
