Wolff Preparing to Sell Shareholding Valuing Mercedes Formula 1 Team at £4.6bn
Toto Wolff is in advanced talks to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – a record for an F1 team – after McLaren was appraised at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a stake approximately 5%.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on this. The governance of Mercedes F1 stays unaltered, and all three partners are fully committed to the ongoing success of the brand in Formula One."
Valuation Increase
This arrangement would represent a significant increase in worth of Mercedes F1 after Ineos Group acquired its share for £208 million in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits recently due to the growing popularity of the sport around the world.
This trend was evident with the success of the F1 movie featuring Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports movie ever released.
Current Performance
Mercedes are runner-up in the team standings, behind McLaren Racing, with three races left in the current championship.
Their lead driver George Russell has won two of the 21 races so far and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
