Toto Wolff Set to Divest Shareholding Valuing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6bn – a record for an F1 team – after McLaren was appraised at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who owns one-third of Mercedes F1, plans to divest a stake approximately five percent.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on this. The governance of the team stays unaltered, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Financial Increase
This arrangement signifies a substantial rise in value of the Mercedes team since Ineos Group acquired its stake for £208 million in 2022.
This surge demonstrates the growth in valuations of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 around the world.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the highest-earning sports film ever released.
Present Standings
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three races remaining this season.
Their lead driver George Russell has secured victory in two of the 21 races so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.