Toto Wolff Preparing to Divest Stake Pricing Mercedes Formula 1 Team at £4.6bn
Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5bn in a change of corporate structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a stake in the region of 5%.
The 53-year-old would stay on as team boss and CEO if the sale goes through.
Ownership Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We will be making no comment on this. The management structure of Mercedes F1 stays unchanged, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Valuation Increase
The deal signifies a significant increase in value of the Mercedes team since Ineos bought its stake for £208 million in 2022.
The rise reflects the expansion in valuations of F1 teams recently due to the increasing appeal of the sport globally.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630 million (£458m) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports film to date.
Present Performance
The Mercedes team are runner-up in the team standings, behind McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer 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 drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
