Wolff Set to Divest Shareholding Valuing Mercedes Formula 1 Team at £4.6 Billion
Mercedes team principal Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for an F1 team – following McLaren was appraised at £3.5bn in a change of corporate structure in September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a stake in the region of five percent.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who each also own a third of the enterprise.
A Mercedes spokesperson said: "We will be making no comment on the matter. The management structure of Mercedes F1 will remain unchanged, and each shareholder are fully committed to continued achievements of the brand in F1."
Valuation Growth
The deal signifies a significant increase in value of the Mercedes team since Ineos bought its share for £208 million in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits recently as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and earned over $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports film to date.
Present Standings
Mercedes are second in the constructors' championship, trailing McLaren, with three races left this season.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
