Wolff Preparing to Divest Stake Valuing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in an adjustment to ownership structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on this. The governance of the team stays unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
This arrangement would represent a substantial rise in value of the Mercedes team since Ineos acquired its stake for £208 million in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits in the past few years due to the growing popularity of the sport around the world.
This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458 million) at the box office.
The film represents Pitt's most successful film and the highest-earning sports movie to date.
Present Performance
Mercedes are second in the constructors' championship, trailing McLaren, with three Grands Prix remaining in the current championship.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
