Toto Wolff Set to Sell Stake Valuing Mercedes F1 at £4.6bn
Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – a record for a Formula 1 squad – following McLaren were valued at £3.5bn in a change of corporate structure in September.
The Austrian executive, who holds one-third of Mercedes F1, would sell a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Shareholder Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold a third of the enterprise.
An official representative stated: "We will be making no official statement on this. The governance of Mercedes F1 stays unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Increase
The deal signifies a substantial rise in value of the Mercedes team after Ineos Group acquired its share for £208 million in 2022.
This surge reflects the expansion in market values of F1 teams recently as a consequence of the increasing appeal of Formula 1 globally.
This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630 million (£458m) at the box office.
The film represents the actor's top-grossing movie and the most successful sports film ever released.
Current Standings
Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races so far and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
