Breaking: Mercedes Formula One team is poised for a meaningful ownership shift as Toto Wolff, a key figure in teh team’s recent success, is set to sell his 33% stake in a deal valuing the entire team at £4.6 billion. The move comes as Formula One continues to experience surging global popularity and escalating team valuations.
The other shareholders in the team are Mercedes and chemicals giant ineos, who each also own a third of the company.
A Mercedes spokesperson said: ”We will be making no comment on this. The governance of the team will remain unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One.”
The potential sale represents a significant increase in value compared to when Ineos acquired its stake for £208 million in 2022.
This valuation growth mirrors the broader trend of rising F1 team values, fueled by the sport’s increasing worldwide appeal. The recent success of the Brad Pitt-starring F1 movie, which grossed over $630 million (£458 million) at the box office last summer, further demonstrates this heightened interest – making it Pitt’s most successful film and the highest-grossing sports movie of all time.
Currently, Mercedes holds second place in the constructors’ championship with three races remaining this season, trailing McLaren. Lead driver George Russell has secured two wins in the 21 grands prix held this year and is fourth in the drivers’ championship, behind McLaren’s Lando Norris and Oscar Piastri, and Red Bull’s Max Verstappen.
Mercedes dominated Formula One for nearly a decade, achieving a record eight consecutive constructors’ championships and seven drivers’ titles between 2014 and 2021. Six of those drivers’ titles were won by Lewis Hamilton, with Nico Rosberg claiming one.
