Toto Wolff Set to Divest Stake Valuing Mercedes Formula 1 Team at £4.6bn
Toto Wolff is in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – a record for an F1 team – after McLaren were valued at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a stake approximately five percent.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the enterprise.
An official representative said: "We will be making no official statement on this. The governance of Mercedes F1 will remain unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
This arrangement signifies a substantial rise in worth of Mercedes F1 after Ineos Group bought its stake for £208 million in 2022.
This surge reflects the expansion in valuations of Formula 1 outfits recently due to the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released last summer and earned more than $630 million (£458m) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports film ever released.
Current Performance
Mercedes are runner-up in the team standings, trailing McLaren, with three races left this season.
Their lead driver George Russell has won two of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
