Toto Wolff Preparing to Divest Stake Valuing Mercedes Formula 1 Team at £4.6 Billion
Mercedes team principal Toto Wolff is in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6bn – a record for a Formula 1 squad – after the McLaren team were valued at £3.5bn in a change of ownership structure in September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a shareholding in the region of 5%.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no comment on the matter. The governance of Mercedes F1 will remain unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in F1."
Valuation Increase
The deal signifies a significant increase in worth of the Mercedes team after Ineos Group bought its stake for £208 million in 2022.
The rise reflects the growth in market values of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 around the world.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630m (£458 million) at the box office.
The film represents Pitt's most successful film and the highest-earning sports film ever released.
Present Standings
The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix remaining this season.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 grands prix this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
