Toto Wolff Preparing to Sell Stake Pricing Mercedes Formula 1 Team at £4.6bn
Mercedes team principal Toto Wolff is in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.
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 a change of corporate structure in September.
Wolff, who holds one-third of Mercedes F1, would sell a stake in the region of 5%.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on this. The governance of the team stays unchanged, and all three partners are fully committed to the ongoing success of the brand in F1."
Valuation Increase
The deal signifies a significant increase in value of the Mercedes team after Ineos Group bought its stake for £208m in 2022.
The rise demonstrates the growth in valuations of F1 teams recently due to the increasing appeal of Formula 1 around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which debuted last summer and earned more than $630m (£458 million) at the box office.
It is Pitt's most successful movie and the highest-earning sports film ever released.
Present Performance
The Mercedes team are runner-up in the team standings, behind McLaren, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix this year and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
