Wolff Preparing to Divest Shareholding Valuing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6 billion – a record for an F1 team – following McLaren was appraised at £3.5bn in a change of corporate structure last September.
Wolff, who owns one-third of Mercedes F1, would sell a stake approximately 5%.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos Group, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no comment on the matter. The governance of Mercedes F1 will remain unchanged, and all three partners are fully committed to continued achievements of the brand in F1."
Financial Growth
The deal signifies a significant increase in worth of Mercedes F1 since Ineos bought its share for £208 million in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits recently as a consequence of the increasing appeal of Formula 1 globally.
This trend was evident with the success of the F1 movie starring Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports film to date.
Current Performance
Mercedes are second in the team standings, trailing McLaren, with three races left this season.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 grands prix this year and is in fourth place 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 driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.