Toto Wolff Set to Sell Stake Valuing Mercedes F1 at £4.6bn
Toto Wolff is engaged in final negotiations to offload part of his shareholding in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren was appraised at £3.5 billion in an adjustment to ownership structure in September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a shareholding in the region of 5%.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos Group, who both hold a third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on this. The management structure of Mercedes F1 stays unchanged, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Financial Increase
This arrangement signifies a substantial rise in value of Mercedes F1 after Ineos bought its stake for £208m in 2022.
The rise reflects 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 was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and earned more than $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports film to date.
Current Standings
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has won 2 of the 21 races this year and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.