Toto Wolff Set to Sell Stake Valuing Mercedes Formula 1 Team at £4.6bn

Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.

This transaction estimates Mercedes at £4.6bn – a record for a Formula 1 squad – following McLaren was appraised at £3.5bn in a change of corporate structure in September.

The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, plans to divest a stake in the region of five percent.

The 53-year-old would stay on as team boss and chief executive officer if the sale goes through.

Ownership Structure

Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who each also own a third of the company.

A Mercedes spokesperson stated: "We are providing no comment on the matter. The governance of Mercedes F1 stays unaltered, and each shareholder are fully committed to the ongoing success of the brand in Formula One."

Valuation Increase

The deal would represent a substantial rise in value of Mercedes F1 since Ineos Group bought its share for £208m in 2022.

The rise demonstrates the growth in market values of Formula 1 outfits in the past few years due to the growing popularity of the sport around the world.

This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and earned over $630 million (£458m) at the box office.

The film represents the actor's top-grossing film and the highest-earning sports movie ever released.

Current Performance

The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix left in the current championship.

Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races this year and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

The team won a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.