Toto Wolff Set to Sell Shareholding Pricing Mercedes F1 at £4.6bn
Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6bn – a record for a Formula 1 squad – after McLaren was appraised at £3.5bn in a change of corporate structure last September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a stake approximately five percent.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the enterprise.
An official representative stated: "We will be making no comment on this. The governance of the team will remain unchanged, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Financial Growth
The deal signifies a substantial rise in value of the Mercedes team since Ineos acquired its stake for £208m in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits recently due to the growing popularity of Formula 1 around the world.
This trend was evident with the box-office performance of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 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 to date.
Present Performance
Mercedes are runner-up in the team standings, trailing McLaren, 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 in fourth place in the drivers' championship after 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 driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
