Toto Wolff Set to Divest Shareholding Valuing Mercedes F1 at £4.6bn

Toto Wolff is in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.

The deal estimates Mercedes at £4.6 billion – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in a change of corporate structure in September.

Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.

Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.

Ownership Structure

Remaining partners in the team are Mercedes and industrial group Ineos, who both hold a third of the company.

A Mercedes spokesperson said: "We are providing no comment on this. The management structure of Mercedes F1 stays unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."

Valuation Increase

This arrangement would represent a significant increase in worth of Mercedes F1 after Ineos Group bought its share for £208m in 2022.

The rise demonstrates the expansion in valuations of Formula 1 outfits recently due to the growing popularity of the sport globally.

This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which was released last summer and has grossed over $630m (£458m) at the box office.

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

Current Performance

Mercedes are second in the team standings, trailing McLaren, with three races left this season.

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

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