Toto Wolff Preparing to Divest Stake Valuing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is in advanced talks to offload a portion of his shareholding in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – a record for an F1 team – following McLaren were valued at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing no official statement on this. The governance of Mercedes F1 will remain unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Growth
The deal signifies a significant increase in value of Mercedes F1 after Ineos bought its share for £208 million in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits recently due to the growing popularity of the sport globally.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which debuted last summer and earned over $630m (£458 million) at the box office.
It is the actor's top-grossing movie and the highest-earning sports movie ever released.
Current Standings
Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three races left in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 grands prix so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.