Toto Wolff Set to Divest Shareholding Valuing Mercedes F1 at £4.6 Billion
Mercedes team principal Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a shareholding approximately five percent.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Structure
The other shareholders in the team are Mercedes and industrial group Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making 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."
Financial Increase
The deal would represent a significant increase in worth of the Mercedes team after Ineos Group acquired its share for £208 million in 2022.
The rise reflects the expansion 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 box-office performance of the Formula 1 film starring Brad Pitt, which debuted last summer and has grossed over $630 million (£458 million) at the box office.
It is Pitt's most successful film and the highest-earning sports film ever released.
Present Standings
Mercedes are runner-up in the team standings, 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 grands prix this year and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
