Wolff Set to Divest Shareholding Pricing Mercedes Formula 1 Team at £4.6 Billion
Mercedes team principal Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5 billion in a change of corporate structure in September.
Wolff, who owns one-third of Mercedes F1, plans to divest a stake approximately 5%.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the enterprise.
An official representative said: "We will be making no official statement on this. The management structure of the team will remain unchanged, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Financial Growth
The deal signifies a significant increase in worth of the Mercedes team after Ineos Group acquired its share for £208 million in 2022.
The rise reflects 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 success of the F1 movie starring Brad Pitt, which debuted in summer 2023 and earned more than $630m (£458 million) at the box office.
The film represents Pitt's most successful movie and the most successful sports film ever released.
Present Performance
The Mercedes team are second in the team standings, behind McLaren Racing, with three Grands Prix remaining this season.
Their lead driver George Russell has secured victory in two of the 21 grands prix so far and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
