Toto Wolff Set to Sell Stake Pricing Mercedes F1 at £4.6bn
Mercedes team principal Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – a record for an F1 team – following the McLaren team was appraised at £3.5bn in a change of corporate structure last September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a stake approximately five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer should the deal proceed.
Shareholder Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos, who each also own one-third of the enterprise.
An official representative stated: "We are providing no comment on the matter. The governance of Mercedes F1 will remain unaltered, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Financial Increase
This arrangement would represent a significant increase in value of the Mercedes team after Ineos acquired its stake for £208m in 2022.
The rise reflects the expansion in market values of Formula 1 outfits recently as a consequence of the increasing appeal of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful movie and the highest-earning sports movie to date.
Current Standings
The Mercedes team are runner-up in the team standings, trailing McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix this year and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
