Toto Wolff is indeed on the race track negotiating – to sell a portion of his stake in the Mercedes Formula 1 team. If it goes ahead, this would peg the franchise’s value at roughly £4.6 billion. Wolff’s existing shareholding in the team is around one-third of the total shares. If negotiations provide satisfactory terms, he intends to sell approximately 5% of those shares.
Despite this likely divestment, Wolff will remain in place as team principal and chief executive officer. This move will give stakeholders confidence that, as long as he’s at the helm, the team’s governance will not veer off course under his command. He, as well as his three partners, are all in—100% committed to building on Mercedes-Benz’ unprecedented success in Formula One.
The announcement comes first via a report following the news from Sportico, which has now been independently confirmed by BBC Sport. Wolff’s involvement has been pivotal in Mercedes’ dominance in Formula One, where the team secured a record eight consecutive constructors’ championships from 2014 to 2021. In the process, the team won seven drivers’ titles over this stretch. Lewis Hamilton won five of these championships, and Nico Rosberg a single championship in 2016.
So far this season, George Russell has brought home almost identical results. He’s won two of the 21 grands prix held so far, and is fourth in the drivers’ championship standings.
“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.” – Mercedes spokesperson
In addition to these developments within the team, interest in Formula One has surged, bolstered by mainstream media coverage such as the recent F1 film starring Brad Pitt. The film has been an extraordinary box office success, pulling in more than $630 million (£458 million). This officially makes it Brad Pitt’s most successful film and the highest-grossing sports movie of all time.
As these negotiations continue to unfold, all eyes will be on them. Such a change in shareholding would have tremendous ramifications on the future of Mercedes F1 and their fortunes in the ultra-competitive world of motorsport.