🔗 Share this article

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

This transaction estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following McLaren was appraised at £3.5bn in a change of ownership structure in September.

Wolff, who holds a 33% stake of Mercedes F1, plans to divest a shareholding approximately 5%.

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

Shareholder Breakdown

Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the enterprise.

A Mercedes spokesperson said: "We are providing no official statement on this. The management structure of Mercedes F1 will remain unaltered, and all three partners are dedicated to continued achievements of the brand in Formula One."

Valuation Increase

The deal would represent a substantial rise in worth of Mercedes F1 since Ineos acquired its share for £208m in 2022.

The rise reflects the expansion in valuations of F1 teams in the past few years 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 was released in summer 2023 and earned more than $630 million (£458m) at cinemas worldwide.

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

Current Standings

The Mercedes team are second in the team standings, behind McLaren Racing, with three Grands Prix left in the current championship.

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

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