Toto Wolff Preparing to Sell Shareholding Valuing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6bn – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in a change of corporate structure in September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a stake in the region of 5%.
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 and chemicals giant Ineos Group, who both hold one-third of the enterprise.
An official representative 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 Mercedes-Benz in Formula One."
Financial Increase
This arrangement signifies a substantial rise in worth of the Mercedes team since Ineos Group bought its share for £208 million in 2022.
This surge demonstrates the expansion in valuations of F1 teams in the past few years due to the growing popularity of the sport globally.
This trend was evident with the success of the F1 movie featuring Brad Pitt, which was released last summer and earned more than $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports movie ever released.
Present Standings
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
