Toto Wolff Set to Sell Shareholding Valuing Mercedes Formula 1 Team at £4.6 Billion

Toto Wolff is in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.

The deal values the Mercedes team at £4.6bn – a record for an F1 team – after McLaren were valued at £3.5bn in a change of corporate structure in September.

Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake in the region of 5%.

The 53-year-old would stay on as team boss and CEO should the deal proceed.

Ownership Breakdown

Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the enterprise.

An official representative said: "We will be making no comment on this. The governance of Mercedes F1 stays unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in F1."

Valuation Growth

This arrangement would represent a significant increase in value of Mercedes F1 since Ineos Group acquired its share for £208m in 2022.

The rise reflects the growth in market values of Formula 1 outfits recently due to the increasing appeal of the sport around the world.

This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458 million) at cinemas worldwide.

It is Pitt's most successful movie and the most successful sports movie to date.

Present Performance

Mercedes are runner-up in the team standings, behind McLaren, with three races left this season.

Their lead driver British driver George Russell has won two of the 21 races this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

Mercedes secured a unprecedented eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.