Wolff Set to Sell Shareholding Valuing Mercedes Formula 1 Team at £4.6bn
Toto Wolff is engaged in final negotiations to offload part of his shareholding in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6bn – a record for an F1 team – after McLaren was appraised at £3.5bn in an adjustment to ownership structure in September.
Wolff, who owns one-third of Mercedes F1, plans to divest a stake approximately five percent.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on the matter. The governance of the team will remain unaltered, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
The deal signifies a substantial rise in worth of the Mercedes team after Ineos bought its stake for £208m in 2022.
The rise demonstrates the growth in valuations of F1 teams recently due to the growing popularity of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports movie ever released.
Present Performance
Mercedes are second in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has won 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 unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.