Mercedes Formula One team boss Toto Wolff is reportedly in advanced discussions to sell a small portion of his 33% ownership in the team at a valuation of around $6 bn. Sources close to the matter say the potential deal would set a record for an F1 team’s value, surpassing the $4.7 bn price tag attached to a recent McLaren stake sale.
Despite the planned sale, Wolff is expected to continue in his dual role as CEO and team principal. The transaction involves a mid-single-digit percentage of the team through an investment in Wolff’s holding company. The identity of the buyer remains undisclosed.
A Mercedes-AMG Petronas spokesperson declined to comment but confirmed that team governance would remain unchanged. The team is jointly owned by Mercedes-Benz, Toto Wolff and British chemical group Ineos, each holding a 33% stake. Ineos, led by billionaire Jim Ratcliffe, became an equal partner in 2022.
Mercedes-AMG Petronas generated $812 mln in revenue in 2024, the highest in Formula One, while Wolff earned more than $50 mln in salary and dividends from his ownership.
Toto Wolff and Mercedes Team
Before joining Mercedes in 2013, Wolff held shares in the Williams F1 team. His initial investment in Mercedes valued the team at roughly $165 mln. Under his leadership, Mercedes went on to dominate Formula One, claiming eight consecutive constructors’ titles and seven driver championships with Lewis Hamilton.
The team’s rise coincided with a global surge in Formula One’s popularity, driven by Liberty Media’s management and Netflix’s Drive to Survive series, where Wolff became a familiar face. New cost caps and financial reforms have made F1 teams more profitable and attractive to investors.
Not long ago, owning an F1 team was a financial burden, with several outfits including Caterham, HRT and Manor Racing shutting down during the 2010s. In contrast, valuations have now reached record highs.
McLaren’s recent deal underscores the trend: in September, the team’s owners bought back the 30% stake previously held by MSP Sports Capital, yielding the fund a tenfold return on its 2020 investment.
As the 2025 season nears its end, Mercedes sits second in the constructors’ standings after their drivers finished second and fourth at the Brazilian Grand Prix, while McLaren has already secured its second consecutive title.
