Wolff Preparing to Divest Stake Pricing Mercedes Formula 1 Team at £4.6bn
Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a shareholding in the region of five percent.
The 53-year-old will remain as team principal and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the company.
An official representative said: "We are providing no official statement on this. The governance of the team stays unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
This arrangement would represent a significant increase in value of the Mercedes team since Ineos bought its stake for £208 million in 2022.
This surge demonstrates the growth in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and earned more than $630 million (£458 million) at the box office.
The film represents Pitt's most successful movie and the most successful sports film to date.
Present Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has won 2 of the 21 races so far and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.