Toto Wolff Preparing to Sell Shareholding Valuing Mercedes Formula 1 Team at £4.6bn

Mercedes team principal Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes F1 outfit.

The deal values Mercedes at £4.6bn – a record for a Formula 1 squad – after the McLaren team were valued at £3.5bn in a change of ownership structure in September.

Wolff, who owns a 33% stake of Mercedes F1, would sell a shareholding in the region of five percent.

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

Shareholder Breakdown

The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the company.

An official representative stated: "We will be making no official statement on the matter. The management structure of Mercedes F1 stays unaltered, and each shareholder are dedicated to the ongoing success of the brand in Formula One."

Valuation Increase

The deal would represent a substantial rise in worth of the Mercedes team since Ineos Group bought its share for £208 million in 2022.

The rise demonstrates the growth in valuations of F1 teams recently due to the increasing appeal of Formula 1 around the world.

This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458 million) at cinemas worldwide.

It is the actor's top-grossing movie and the highest-earning sports film to date.

Current Performance

Mercedes are runner-up in the team standings, behind McLaren, with three Grands Prix remaining in the current championship.

Their lead driver George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

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