Toto Wolff Preparing to Divest Stake Valuing Mercedes Formula 1 Team at £4.6 Billion
Mercedes team principal Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after the McLaren team was appraised at £3.5bn in an adjustment to corporate structure in September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a stake approximately five percent.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the enterprise.
An official representative said: "We will be making no official statement on this. The management structure of the team will remain unaltered, and all three partners are dedicated to the ongoing success of the brand in F1."
Valuation Increase
This arrangement signifies a substantial rise in worth of Mercedes F1 after Ineos acquired its stake for £208m in 2022.
The rise reflects the growth in market values of Formula 1 outfits in the past few years due to the increasing appeal of the sport globally.
This was also seen in the success of the F1 movie featuring Brad Pitt, which was released last summer and has grossed over $630m (£458m) at the box office.
It is the actor's top-grossing film and the most successful sports movie to date.
Current Standings
Mercedes are runner-up in the team standings, behind McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver George Russell has won 2 of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
