Toto Wolff Set to Sell Shareholding Valuing Mercedes F1 at £4.6bn
Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of ownership structure in September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a stake in the region of 5%.
The 53-year-old will remain as team principal and chief executive officer if the sale goes through.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The management structure of Mercedes F1 stays unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Increase
The deal signifies a significant increase in worth of Mercedes F1 after Ineos bought its stake for £208m in 2022.
This surge demonstrates the growth in market values of F1 teams recently due to the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the F1 movie featuring Brad Pitt, which was released last summer and earned more than $630 million (£458m) at the box office.
It is the actor's top-grossing film and the most successful sports movie to date.
Current Performance
The Mercedes team are second in the team standings, behind McLaren Racing, with three Grands Prix remaining this season.
Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
