Toto Wolff Preparing to Sell Shareholding Pricing Mercedes Formula 1 Team at £4.6bn
Mercedes team principal Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – a record for a Formula 1 squad – after the McLaren team were valued at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, would sell a stake in the region of 5%.
The 53-year-old will remain as team boss and CEO should the deal proceed.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the company.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The governance of the team stays unaltered, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Valuation Growth
The deal signifies a substantial rise in value of the Mercedes team after Ineos acquired its share for £208m in 2022.
This surge demonstrates the growth in market values of F1 teams recently due to the increasing appeal of Formula 1 globally.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which was released last summer and has grossed more than $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports movie to date.
Present Standings
The Mercedes team are runner-up in the constructors' championship, behind McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer George Russell has won 2 of the 21 races so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
