Toto Wolff Set to Divest Shareholding Valuing Mercedes Formula 1 Team at £4.6bn

Toto Wolff is in advanced talks to sell a portion of his ownership stake in the Mercedes F1 outfit.

This transaction estimates Mercedes at £4.6bn – an unprecedented figure for an F1 team – after McLaren were valued at £3.5 billion in a change of corporate structure in September.

Wolff, 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.

Shareholder Structure

The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who both hold one-third of the enterprise.

An official representative said: "We will be making no official statement on this. The governance of the team will remain unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."

Valuation Increase

The deal would represent a significant increase in worth of Mercedes F1 after Ineos acquired its share for £208 million in 2022.

This surge demonstrates the expansion in valuations of F1 teams in the past few years as a consequence of the growing popularity of the sport around the world.

This trend was evident with the box-office performance of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and earned over $630m (£458 million) at cinemas worldwide.

The film represents Pitt's most successful movie and the highest-earning sports movie to date.

Present Standings

Mercedes are runner-up in the constructors' championship, behind McLaren, with three Grands Prix left in the current championship.

Mercedes' primary racer British driver George Russell has won 2 of the 21 races so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

Mercedes won a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.