Toto Wolff Preparing to Sell Stake Pricing Mercedes F1 at £4.6 Billion
Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for an F1 team – following McLaren was appraised at £3.5 billion in a change of ownership structure last September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a stake in the region of five percent.
The 53-year-old will remain as team boss and CEO if the sale goes through.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who each also own one-third of the company.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The management structure of Mercedes F1 stays unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a substantial rise in value of Mercedes F1 since Ineos acquired its stake for £208 million in 2022.
This surge reflects the growth in valuations of F1 teams recently as a consequence of the growing popularity of Formula 1 globally.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful movie and the most successful sports movie to date.
Current Standings
Mercedes are second in the team standings, behind 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 in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
