Toto Wolff Set to Divest Stake Pricing Mercedes Formula 1 Team at £4.6 Billion
Mercedes team principal Toto Wolff is in advanced talks to offload a portion of his shareholding in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following the McLaren team were valued at £3.5bn in a change of ownership structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Shareholder Structure
Remaining partners in the team are Mercedes and industrial group Ineos, who both hold one-third of the company.
An official representative stated: "We are providing no official statement on the matter. The governance of the team will remain unaltered, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Valuation Growth
The deal would represent a substantial rise in value of the Mercedes team after Ineos acquired its stake for £208m in 2022.
The rise demonstrates the expansion in market values of F1 teams in the past few years as a consequence of the growing popularity of the sport around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the highest-earning sports movie to date.
Current Standings
Mercedes are second in the constructors' championship, behind McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
