Toto Wolff Preparing to Divest Stake Valuing Mercedes Formula 1 Team at £4.6bn
Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5bn in an adjustment to ownership structure last September.
Wolff, who owns one-third of Mercedes F1, plans to divest a stake approximately 5%.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold a third of the company.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The management structure of the team will remain unaltered, and all three partners are dedicated to continued achievements of the brand in F1."
Valuation Increase
This arrangement would represent a significant increase in value of the Mercedes team since Ineos Group acquired its share for £208m in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits recently due to the growing popularity of the sport globally.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458m) at the box office.
It is Pitt's most successful movie and the highest-earning sports movie to date.
Current Standings
Mercedes are second in the constructors' championship, behind McLaren, with three races left in the current championship.
Mercedes' primary racer British driver George Russell has won two of the 21 races this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.