Toto Wolff Set to Sell Shareholding Pricing Mercedes F1 at £4.6 Billion
Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in a change of ownership structure last September.
Wolff, who owns one-third of Mercedes F1, would sell a shareholding approximately 5%.
The 53-year-old would stay on as team boss and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos, who both hold a third of the enterprise.
An official representative stated: "We will be making no official statement on this. The management structure of the team stays unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a significant increase in worth of the Mercedes team after Ineos Group bought its stake for £208m in 2022.
This surge demonstrates the growth in market values of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which was released last summer and has grossed over $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports movie to date.
Current Standings
The Mercedes team are second in the team standings, trailing McLaren Racing, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
