Mercedes’ Toto Wolff is willing to invest in £5 billion Manchester United
The INEOS investment in Manchester United is unlikely to have an impact on the Mercedes F1 team.
The Mercedes F1 team is jointly owned by Team Principal Toto Wolff, Daimler, and INEOS. Sir Jim Ratcliffe owns INEOS, which has various sporting businesses under its umbrella. Manchester United, the legendary British football team, is the most recent addition. The acquisition by INEOS has increased the club’s value to a whopping £5 billion.
Ratcliffe will pay £1.25 billion for a 25% share of Manchester United. This follows a year of negotiations between INEOS and the Glazer family. Sir Jim Ratcliffe’s sporting portfolio also includes OGC Nice, INEOS Britannia, and INEOS Grenadiers, with Mercedes formerly being the most valued jewel in this umbrella.
However, with the addition of Manchester United, the Silver Arrows lost their position as the most valuable team at INEOS. According to Forbes, the Mercedes F1 team is worth approximately $3.8 billion (£3.1 billion). Nonetheless, according to sources, the Brackley-based team will be untouched by this transaction, with no changes to its day-to-day operations.
Toto Wolff, the principal and shareholder of the Mercedes F1 Team, is friendly with Sir Jim Ratcliffe. Wolff stated that he has faith in the INEOS CEO. Furthermore, the Austrian billionaire showed an interest in joining Ratcliffe’s stake in Manchester United.
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Furthermore, Wolff stated that Ratcliffe’s purchase of a 25% share in the Football Club is nothing short of a love story. The INEOS CEO was born in Manchester and has always supported the Red Devils. Toto Wolff also revealed that he and Jim Ratcliffe have a close personal relationship with Mercedes-Benz CEO Ola Kallenius. The ‘Three Amigos’ are a popular nickname.
Jim and Manchester United is a love story because he was born there. Our personal relationship is strong and with Ola Kallenius [Mercedes-Benz CEO], they call us the Three Amigos because we live in the no bulls*** world.
However, it is expected that the British MNC’s status as a shareholder of the Mercedes F1 team will remain unchanged. It remains to be seen whether Wolff will be persuaded to join Ratcliffe’s latest investment.
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