🔗 Share this article

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

The deal estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – after McLaren were valued at £3.5bn in a change of corporate structure in September.

Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.

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

Ownership Structure

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

An official representative said: "We will be making no official statement on this. The management structure of the team stays unaltered, and each shareholder are fully committed to continued achievements of the brand in F1."

Valuation Increase

This arrangement signifies a significant increase in worth of the Mercedes team after Ineos Group bought its share for £208 million in 2022.

This surge demonstrates the expansion in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport globally.

This trend was evident with the success of the F1 movie starring Brad Pitt, which was released in summer 2023 and earned over $630 million (£458m) at cinemas worldwide.

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

Current Performance

The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three races remaining this season.

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

The team secured a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.