Wolff Preparing to Divest Shareholding Valuing Mercedes F1 at £4.6bn
Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after McLaren was appraised at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who owns a 33% stake of Mercedes F1, plans to divest a stake approximately 5%.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The management structure of the team will remain unchanged, and all three partners are fully committed to the ongoing success of the brand in Formula One."
Financial Growth
The deal signifies a substantial rise in worth of Mercedes F1 after Ineos Group bought its share for £208m in 2022.
This surge demonstrates the growth in market values of Formula 1 outfits recently as a consequence of the increasing appeal of Formula 1 around the world.
This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful movie and the highest-earning sports film to date.
Current Standings
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
