Wolff Set to Divest Shareholding Valuing Mercedes F1 at £4.6 Billion
Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following McLaren was appraised at £3.5 billion in a change of ownership structure in September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a stake in the region of five percent.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the enterprise.
An official representative said: "We will be making no comment on this. The management structure of Mercedes F1 will remain unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Increase
The deal signifies a significant increase in value of the Mercedes team after Ineos bought its share for £208 million in 2022.
This surge demonstrates the expansion in market values 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 Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and has grossed over $630 million (£458m) at the box office.
The film represents Pitt's most successful film and the most successful sports movie to date.
Current Standings
The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.