Toto Wolff Set to Sell Stake Pricing Mercedes Formula 1 Team at £4.6 Billion
Mercedes team principal Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in an adjustment to ownership structure last September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a shareholding approximately five percent.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own a third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on the matter. The management structure of the team will remain unchanged, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Financial Growth
The deal would represent a significant increase in value of the Mercedes team after Ineos bought its stake for £208 million in 2022.
This surge reflects the growth in market values of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 around the world.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the highest-earning sports film to date.
Present Standings
The Mercedes team are second in the team standings, trailing McLaren, with three races remaining this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
