Toto Wolff Preparing to Divest Shareholding Valuing Mercedes Formula 1 Team at £4.6bn
Mercedes team principal Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after McLaren was appraised at £3.5bn in a change of corporate structure last September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately five percent.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the company.
An official representative said: "We will be making no official statement on the matter. The management structure of the team stays unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Increase
The deal signifies a significant increase in worth of the Mercedes team after Ineos bought its share for £208m in 2022.
The rise reflects the growth in market values of F1 teams in the past few years due to the growing popularity of the sport around the world.
This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and earned over $630m (£458 million) at the box office.
The film represents Pitt's most successful film and the highest-earning sports movie ever released.
Present Standings
Mercedes are second in the team standings, behind McLaren, with three races remaining this season.
Their lead driver George Russell has secured victory in two of the 21 races so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
