Toto Wolff Set to Divest Shareholding Valuing Mercedes Formula 1 Team at £4.6 Billion
Mercedes team principal Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – a record for an F1 team – after McLaren was appraised at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately 5%.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the company.
An official representative said: "We will be making no official statement on the matter. The governance of the team stays unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Increase
This arrangement signifies a significant increase in worth of Mercedes F1 after Ineos Group bought its stake for £208 million in 2022.
This surge demonstrates the expansion in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of Formula 1 globally.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458m) at the box office.
The film represents the actor's top-grossing film and the most successful sports film to date.
Present Standings
The Mercedes team are second 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 grands prix this year and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
