© Steve Etherington for Mercedes-Benz Grand Prix Ltd.
BBC has confirmed that Mercedes team boss Toto Wolff is selling part of his shareholding in the team, in a deal that values Mercedes F1 at £4.6bn.
Sportico recently reported that Mercedes team boss Toto Wolff is involved in negotiations to sell part of his shareholding in the Mercedes F1 Team.
BBC reports it has independently verified this rumour, and adds that the deal values Mercedes at £4.6bn, a record for an F1 team. McLaren were valued at £3.5bn during an ownership structure change back in September.
Wolff is a one-third owner of the team, along with Mercedes and chemicals company INEOS. BBC is reporting that the Austrian would sell a shareholding “in the region of 5%”.
If the deal goes through, Wolff would remain team principal and chief executive officer.
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When asked to comment, the team declined.
“We will be making no comment on this,” a Mercedes spokesperson said.
“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 spokesperson concluded.
The deal would represent an increase in value of Mercedes F1, since INEOS bought its stake in the team for £208m, back in 2022.
