Toto Wolff Set to Sell Shareholding Valuing Mercedes F1 at £4.6 Billion
Mercedes team principal Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following McLaren were valued at £3.5bn in a change of ownership structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a shareholding in the region of 5%.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own a third of the company.
An official representative stated: "We are providing no official statement on the matter. The governance of Mercedes F1 will remain unchanged, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Valuation Growth
The deal signifies a significant increase in worth of Mercedes F1 after Ineos Group acquired its share for £208 million in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits recently as a consequence of the increasing appeal of the sport globally.
This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which was released last summer and earned more than $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports movie ever released.
Present Standings
The Mercedes team are runner-up in the constructors' championship, behind McLaren Racing, with three races remaining in the current championship.
Their lead driver British driver George Russell has secured victory in two 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.
The team won a record eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
